BUZZ-Energy stocks: Set for worst day since Aug. 24 as oil hits near 7-yr low

Mon Dec 7, 2015 10:41am EST
 
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(Updates)

** Oil and gas companies' shares fall as Brent crude falls to near 7-year low as OPEC failed to agree in Friday meeting to cut output and without reference to output ceiling, while a strong dollar made it more costly to hold crude positions

** Brent fall as much as 3.7 pct to $41.42/bbl, U.S. crude fall as much as 4.5 pct at $38.17/bbl

** S&P energy index down 4.5 pct and is easily the biggest loser among 10 major S&P sectors; index on track for worst day since Aug. 24 drop

** E&P majors Statoil down 4.9 pct, Shell 4.2 pct, ConocoPhillips 3.6 pct, Chevron 3.5 pct

** BP down 3.3 pct, Total 3.1 pct, Exxon 2.6 pct, Kinder Morgan 2.3 pct

** Oilfield services providers Schlumberger down 3.2 pct, Halliburton 4 pct, Baker Hughes 6.8 pct and National-Oilwell Varco 4.5 pct

** Contract drillers fall: Seadrill down 9 pct; Nabors 5.8 pct; Diamond Offshore 4.7 pct; Helmerich & Payne 4.6 pct; Patterson-UTI 4.5 pct; Atwood Oceanics 4.3 pct; Transocean 3.3 pct

** Among top losers: Memorial Production Partners down 16.3 pct; Targa Resources 14.6 pct; Pioneer Energy 13.3 pct; Stone Energy 13 pct; Sanchez Energy 11.9 pct; EV Energy Partners 11 pct; Oasis Petroleum 10 pct; Basic Energy 8 pct; Chesapeake 8 pct