BUZZ-Oil stocks: Oil slide resumes

Thu Dec 4, 2014 11:06am EST
 
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** Oil companies' shares down 4-9 pct

** Brent fell on Thursday after Saudi Arabia announced deep cuts in selling prices for Asian and U.S. buyers

** Brent crude down 1.04 pct at $69.18/bbl at 10:47 ET; U.S. crude down 1.31 pct at $66.51/bbl

** Abraxas Petroleum Corp down 8.3 pct at $2.98, SandRidge energy Inc down 7.3 pct at $2.30, Natural Resource Partners LP down 6.6 pct at $10.60, Exco Resources Inc down 4 pct at $2.66

** Advantage Oil and Gas Ltd down 6.9 pct at $4.83, Baytex Energy Corp down 8.6 pct at $20.29; Talisman Energy Inc down 10.5 pct at $4.71

** Imperial Capital cuts price target on Abraxas to $3 from $4.50, Raymond James cuts price target on Baytex to C$22 from C$41

** Oil prices have been volatile since OPEC said last week it would not lower output despite an oversupplied market