Cie Generale de Geophysique - Veritas ( CGV) advanced 11.9% last week, after reporting 2010 fourth quarter revenue at $905 million vs. consensus $729.2 million.

Range Resources ( RRC) gained 11.5% during the week, after the company issued upbeat operations update. The company said that production volume for the fourth quarter jumped 18% from the year-ago period. Capital One Southcoast upgraded the stock to add from neutral, citing the company's positive operations update.

Continental Resources ( CLR) added 9.3% after reporting 2010 fourth quarter adjusted earnings per share at 51 cents vs. estimates of 49 cents.

Brigham Exploration ( BEXP) gained 8.9% during the week, after reporting 2010 fourth quarter adjusted earnings per share at 21 cents vs. consensus 19 cents. Average daily production during the quarter was 11,384 barrel of oil equivalent (BOE), which is expected to remain in the range of 11,300-12,000 BOE/day during 2011 first quarter. For full-year 2011, the management guided production in the range of 14,000-16,000 BOE/day.

Similarly, SM Energy ( SM) rose 8.9% after reporting 2010 fourth quarter earnings per share at 57 cents vs. estimates of 30 cents.

Southwestern Energy ( SWN) advanced 7.4% during the week. For the 2010 fourth quarter, the company reported earnings per share at 43 cents vs. estimates of 42 cents, while sales came in at $670.4 million vs. consensus $497.9 million.

MOL Hungarian Oil and Gas jumped 6.7% last week. Concorde Securities raised its rating on MOL to overweight, while Morgan Stanley raised its price target.

Key Energy Services ( KEG) added 6.4% after UBS raised its target price for the stock to $16 from $14, maintaining buy rating. The bank increased its EPS estimates to 62 cents from 61 cents for 2011, and to 70 cents from 68 cents for 2012.

Other movers were Rosetta Resources ( ROSE), Sasol ( SSL), Berry Petroleum ( BRY) and Noble ( NE), up 8.4%, 8.0%, 7.9% and 6.9%, respectively.

Among oil giants, Chevron ( CVX) jumped 5.1% after Valero Energy ( VLO) is said to be in talks to buy Chevron's U.K. refinery. Meanwhile, Petroleo Brasileiro (Petrobras) ( PBR), Apache ( APA), and ConocoPhillips ( COP) gained 5.7%, 2.4%, and 2.3%, respectively.

Seacor Holdings was the top loser for the second consecutive week, plunging around 14.5%. JA Solar fell 10.4%, despite reporting stronger-than-expected 2010 fourth quarter revenue at $584.3 million vs. consensus $570.9 million.

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