Pritchard Capital Provides Color on Exploration & Production Sector

Pritchard Capital provided color on exploration & productions sector. In a research report published today, Pritchard commented on the impact of bad weather on the performance of companies within the sector. In the report, Pritchard states, "Following the worst winter in the Williston Basin (WB) in over 100 years and a spring filled with rain, several more Bakken players-Whiting Petroleum Corporation (WLL-$57.93), Oasis Petroleum Inc. (OAS-$27.09), and Brigham Exploration Co. (BEXP-$27.52), came out last week talking about the weather impact on Q2 2011 results... Most of this is behind us, however, and with the purer Bakken names down on average over 30% from their 52 week highs vs. only 10% for the EPX, with Q2 almost over and the H2 11 and 2012 outlook bright for many of the players, we believe short-term weather concerns have been overblown and are already reflected in the stocks." On Friday, Whiting Petroleum Corporation WLL closed the day at $57.93; Oasis Petroleum OAS closed at $27.09; Brigham Exploration BEXP closed at $27.52, or 0.11% down on the previous close.