Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

The Top 3 Oil and Gas Stocks This Week: Endeavour International Corporation (END), InterOil Corporation (USA) (IOC), RigNet Inc (RNET)

4 Stocks Expected to Double Sales in 2013Oil prices were on the move this week after a pipeline shutdown in the North Sea. At the oil market’s close on Tuesday, Brent crude was up 1.1% to $111.61 and WTI crude was up 0.3% to $90.86. Later in the evening, it was announced that Venezuela’s Hugo Chavez had died. Venezuela is OPEC’s fourth largest member in terms of production, but it’s unclear how Chavez’s death will affect the oil market. U.S. natural gas, meanwhile, remains stuck in the doldrums, down 0.3% this week to $3.53.

The top oil and gas stocks this week
1. This week’s leader is Endeavour International Corporation (NYSE:END) , up 58% this week to $3.97. Endeavour has had a self-inflicted rough year and an even rougher month. Last summer, with the stock around $12, Endeavour International Corporation (NYSE:END) announced a dilutive share offering and took on additional debt to purchase oilfield assets from ConocoPhillips (NYSE:COP) in the North Sea. The stock dropped from a high of $12.82 to the share offering price of $7.50 and slowly continued falling.

On Feb. 14 at a price of $5, the company announced that a storm the previous week had damaged its well at East Rochelle and that it was halting operations there. At the same time, the company announced that it was hiring investment bank Tudor, Pickering, & Holt to pursue strategic alternatives. The stock immediately plummeted. You know it’s bad when the brokerage that did the most recent stock offering downgrades the stock from “buy” to “neutral,” which Global Hunter Securities did on Feb. 20.

Endeavour International Corporation (NYSE:END) hit a low of $2.36 last week. The stock has since come back a bit, but with a large debt load, a $115 million credit facility due in October, and a damaged well, things don’t look good for Endeavour International Corporation (NYSE:END). I’d pass on this one.