It's not every day that shares of multiple exploration and production companies are up by double-digit percentages. Sure, it helps to have Goldman Sachs calling for a $200-a-barrel superspike, but plenty of companies are trading up on their own merits. I figured I'd bring you a roundup of today's biggest gainers, just to get an idea of the fundamentals at work in the space.
First up is Comstock Resources
In the first quarter, onshore production lifted 44%, a staggering figure. Operating cash flow, before balance sheet changes, sizzled 70% higher. The company's drilling campaign continues to deliver, with a 97% success rate in the quarter. And with a foothold in Chesapeake Energy's
Speaking of fireworks, check out Canadian Superior Energy
The same can't be said for Cimarex Energy
- With all this drilling, these folks aren't feeling any pressure.
- There's no reason to be sheepish about these drillers, either.
- In offshore drilling, it's all about the dynasty.