(Energy winners story updated for closing prices, Gulfport Energy news)
NEW YORK (TheStreet) -- It's about time for Easter egg hunting, but a bigger hunt is getting underway for precious oil and gas assets located offshore in the outer continental shelf of the U.S.
A new era of U.S. offshore oil exploration began on Wednesday, and offshore drilling stocks rallied.
Offshore drilling stocks continued their rally on Thursday. ENSCO International (ESV) was leading returns on Thursday, up 4.8%. Ensco's two-day gain on Wednesday and Thursday had added just under $3 to its stock price, to $46.91 at the close on Thursday.
Diamond Offshore Drilling (DO) was up 2.5% on Thursday, to $91.01. Diamond's two-day share price gain was $4.50 above the share price it was trading at before Department of the Interior Secretary Ken Salazar and President Obama declared the outer continental shelf of the U.S. back in the oil and gas exploration business.Transocean (RIG), with the hardest-to-beat ticker symbol among offshore oil drillers, was up close to 3% on Thursday, to $88.77. Transocean's two-day gain was above just under $4 a share. In fact, the biggest pop of all among oil and gas exploration stocks on Thursday was unrelated to the price of oil rising above $85, or the news from Washington D.C. Gulfport Energy (GPOR) shares spiked 20% on speculation that its stake in a Canadian oil sands company could fetch a high value in a future initial public offering.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV