Why Oasis Petroleum, Callon Petroleum, and Centennial Resource Development Shares Tanked This Morning

Shares of U.S. energy company Oasis Petroleum (NYSE: OAS) fell as much as 16% in early trading on Wednesday. Peers Callon Petroleum (NYSE: CPE) and Centennial Resource Development (NASDAQ: CDEV) went along for the ride, each dropping roughly 10% as investors got to work for the day.

Although all three pulled back from those lows, by 10:30 a.m. EDT today, the losses were still sizable. Oasis was still lower by about 12%, with Callon and Centennial each down roughly 6%. 

Image source: Getty Images.

Continue reading

Source Fool.com