BUZZ-Oil and gas companies: Crude surges on prospect of production cuts

Thu Jan 28, 2016 10:43am EST
 
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** Shares of oil and gas producers and related companies up as crude rises as much as 8 pct to above $35/barrel

** Oil hits 3-week high, bouncing sharply away from a 12-year low set this month, amid growing expectations that major producers may cooperate to cut output

** Brent crude up 3.6 pct at $34.32/bbl, U.S. crude up 3.8 pct at $33.42/bbl at 10:30 a.m. ET

** Among big E&P companies: ConocoPhillips up 6.9 pct, Royal Dutch Shell 4.6 pct, BP 4.2 pct, Chevron Corp 3.9 pct, Total SA 2.7 pct, Exxon Mobil Corp 2.2 pct

** Top gainers: Denbury Resources Inc 16.5 pct, Clayton Williams Energy Inc 15 pct, Matador Resources Co 11.4 pct

** Canadian stocks: MEG Energy Corp up 9.8 pct, Bonavista Energy Corp 9 pct, Baytex Energy Corp 9.5 pct

** Oilfield service providers: Baker Hughes Inc up 4.4 pct, Schlumberger Ltd 4.3 pct, Halliburton Co 4.1 pct

** Contract drillers: Nabors Industries Ltd up 7.9 pct, Patterson-UTI Energy Inc 7 pct, Helmerich & Payne Inc 6.2 pct