December 22, 2014 / 3:48 PM / 3 years ago

BUZZ-Oil and gas companies: Shares slides as oil prices fall

1 Min Read

** Shares of oil and gas producers and oilfield services providers down 7-12 pct

** Brent crude oil fell towards $60/barrel, reversing gains after Saudi Arabia indicated could increase output.

** U.S. crude down 2.6 pct at $55.62/barrel

** Oil and gas producers Ultra Petroleum Corp shares down 12 pct, Swift Energy Co shares down 10 pct

** Oilfield services provider Basic Energy Services Inc shares down 8.7 pct, Precision Drilling Corp's U.S.-listed shares down 8 pct, Nabors Industries Ltd shares down 7 pct

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