Oasis Petroleum advanced 11.2% on strong first-quarter results. Production increased 146% to 8,090 barrels of oil equivalent (Boe) per day from the same period last year. Adjusted earnings before interest, taxes, depreciation and amortization during the March quarter rose to $41.1 million vs. $29.5 million in the first quarter of 2010.
Brigham Exploration rose 10.6%. Equity analyst Dan McSpirit of BMO Capital markets raised the stock to outperform from market perform last week. His target price for the stock is $40 per share.CGGVeritas jumped 9.3% last week after announcing the formation of a marine joint venture with Elnusa of Indonesia. The new entity will deliver 2D and 3D marine seismic acquisition services to oil and gas company clients. McMoRan climbed 8.6% during the week. GT Solar closed 8.5% higher last week. The supplier of solar equipment received a $228 million order to deliver polysilicon production equipment to South Korean firm OCI. Vestas Wind Systems (VWDRY) improved 8.2% after winning an order for 111 turbines. The order includes delivery of 111 V90, 1.8MW turbines to Enel Green Power North America in a five-year service and maintenance agreement. The company will start shipping units from the second half of 2011. Berry Petroleum (BRY) advanced 7.5% last week. SeaDrill (SDRL) edged up 7.3% after North Atlantic Drilling, its 75%-owned subsidiary, received a $100 million order for the semisubmersible drilling rig West Alpha for operations in the Norwegian Continental Shelf. Comstock Resources (CRK) gained 7.1% during the week. The Calgary-based oil company Bankers Pete(BNKJF) surged 7% after reporting positive quarterly results. The company's net income during the March quarter was $11.2 million, or 4 cents per diluted share, compared with a loss of $363,000 during the same period last year. Revenue rose to $72.7 million from $35.1 million in the March quarter of 2010. NewField Exploration (NFX) surged 6.9% during the week. El Paso (EP) gained 6.4% past week, buoyed by news that its Tennessee gas pipeline in Louisiana Bay that was shut down on April 21 following a leak may return to service on May 27.
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