NEW YORK, NY / ACCESSWIRE / September 14, 2017 / It was an exciting day for oil stocks as crude oil prices rallied on Wednesday, sending shares of Chesapeake Energy and Oasis Petroleum higher. Wednesday was the third straight day that oil prices rose after the IEA said that global crude production fell for the first time in four months in August. "Outright benchmark crude prices gained in August, reflecting higher demand in the northern hemisphere and tight physical markets for oil products," said the IEA.

RDI Initiates Coverage on:

Chesapeake Energy Corporation
https://rdinvesting.com/news/?ticker=CHK

Oasis Petroleum Inc.
https://rdinvesting.com/news/?ticker=OAS

Chesapeake Energy closed up 5.35% on Wednesday with trading volume of nearly 50 million shares. The stock was on track to have one of its best days in trading in months yesterday. It was one of the most active trading stocks on the NYSE thanks to the fact that oil prices have been seeing gains for three straight days. U.S. commercial crude inventories have risen by 5.9 million barrels in the week through Sept. 8. This was below analysts' expectations of an increase of 10.1 million barrels, according to analysts polled by S&P Global Platts. Despite the gains on Wednesday, Chesapeake has still seen a loss of over 25% in the last three months. Approximately 61.3% of the analysts tracking Chesapeake Energy (CHK) have rated the stock a "hold." It was last month that shares hit a 17-month low.

Access RDI's Chesapeake Energy Corporation Research Report at:
https://rdinvesting.com/news/?ticker=CHK

Oasis Petroleum shares closed up 9.25% yesterday with nearly 20 million shares traded. Volume was roughly twice as high as usual. Oil stocks including Oasis saw a pop after the International Energy Agency said that August global oil supplies fell for the first time in four months. The agency also revised its 2017 oil demand estimate and raised it to 1.6M bbl/day from its July estimate of 1.5M bbl/day. In other news Oasis also recently filed for the initial public offering (IPO) of its pipeline unit Oasis Midstream Partners LP. Oasis launched an IPO of 7,500,000 common units with an expected price range of $19-$21 per unit. Oasis Midstream is planning on raising around $150 million at a price of $20. The partnership will list on the NYSE under the ticker HESM.

Access RDI's Oasis Petroleum Inc. Research Report at:
https://rdinvesting.com/news/?ticker=OAS

Our Actionable Research on Chesapeake Energy Corporation (NYSE: CHK) and Oasis Petroleum Inc. (NYSE: OAS) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com