Carrizo Oil Stock Gets Pumped on Reports of Potential SM Energy Tie-Up
Posted on Monday March 18, 2019
The news comes amid a margin crunch in the energy sector as falling oil and gas prices and rising costs weigh on profitability. SM Energy operates in the natural gas rich Permian Basin in a swath of land known as the Midland Basin. Oil prices rose Monday, with international benchmark Brent crude prices gaining 0.55% to $67.53 per barrel while West Texas crude gained 0.96% to $59.08.
Carrizo Oil Weighs Deal With Rival Explorer SM Energy
Posted on Monday March 18, 2019
Carrizo rose 4.9 percent to $12.19 for a market valuation of $1.1 billion. The talks come as volatile oil prices put pressure on small and midsize energy explorers to pair up to cut costs, particularly in areas such as the Permian Basin of Texas and New Mexico, which is dense with competition. The company has operations in a swathe of the Permian known as the Midland Basin, where it has been spending more to ramp up production, according to a February investor presentation.
Top Energy Gains Last Week
Posted on Monday March 18, 2019
Energy Sector Highlights Last Week(Continued from Prior Part)Energy stocks In the week ending March 15, upstream stock California Resources (CRC) rose the most among the energy stocks under review in this series, which include the following ETFs:
California Resources Making Large Move amid Oil’s Rise
Posted on Thursday March 14, 2019
How Energy Commodities Are Influencing Upstream Energy Stocks(Continued from Prior Part)Oil-weighted stocks’ returnsBetween March 6 and March 13, our list of oil-weighted stocks rose 2.4% compared to the 3.6% rise in US crude oil April futures. On
