Oasis Petroleum Inc (NYSE:OAS) was not a new position of the fund’s, but it was increased by 323% in the first quarter, to 110,000 shares with a value of $1.56 million at the end of the first quarter of 2015. The fund’s position in the stock amounted 10.28% of its total portfolio holdings, up from just 3.67%. Oasis responded by returning 11.47% in the second quarter. The independent exploration and production company is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. The Company had average daily production of 388 net barrels of oil equivalent per day for the year ended December 31, 2014. The oil was produced from the Bakken and Three Forks formations. The company reported a net loss of $18 million in the first quarter of 2015 and an earnings per share loss of 17 cents per share, due to lower oil prices. Going into the second quarter of 2015, a few other hedge funds with prominent positions were John H. Scully’s SPO Advisory Corp with 20.37 million shares, and John Paulson’s Paulson & Co with 8.81 million shares of the company.
At the end of the first quarter of 2015, Sound Energy Partners held a total of 35,700 shares of Rosetta Resources Inc (NASDAQ:ROSE) with a market value of $608,000. The fund’s holding in the stock moving into the second quarter of 2015 represented 3.99% of its total portfolio value, and had been increased by 48% during the first quarter. The U.S-based company is an independent exploration and production company engaged in the acquisition and development of onshore energy resources in Eagle Ford shale in South Texas and in the Permian Basin in West Texas. On May 10, Noble Energy Inc (NYSE:NBL) and Rosetta Resources Inc (NASDAQ:ROSE) entered into a Merger Agreement pursuant to which Noble Energy Inc agreed to acquire Rosetta Resources Inc(NASDAQ:ROSE) in an all-stock transaction valued at $2.1 billion, while also assuming Rosetta’s net debt of $1.8 billion as of March 31, 2015. Under the definitive agreement, it was concluded that Rosetta shareholders will receive 0.542 shares of Noble Energy’s common stock for each share of Rosetta’s common stock held. On the day of the merger announcement, shares of Rosetta rose 25% to $24.23, while shares of Noble fell by 7% to $45.39 on the New York Stock Exchange. All told, the stock returned 35.75% in the second quarter. Other pleased shareholders of the stock were First Pacific Advisors, managed by Steven Romick and Robert Rodriguez, and Jim Simons’ Renaissance Technologies. The former held 5.55 million shares of the company on March 31.
Disclosure: None
