BUZZ-Oil and gas producers: Oil price falls below $49/bbl

Mon Aug 31, 2015 11:30am EDT
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** Oil and gas companies' shares down 3-6 pct as crude oil prices fall

** Oil fell below $49 per barrel on Monday after its biggest 2-day rally in 6 years last week, pressured by supply glut and renewed concern about hard landing for China's economy

** Brent down $49.60 per barrel and U.S. crude down $45 per barrel at 11:20 a.m. ET

** Laredo Petroleum Inc's shares down 6.4 pct, Crestwood Equity Partners LP down 6.2 pct, Noble Energy Inc down 5.7 pct, Comstock Resources Inc down 5.4 pct

** Contract drillers: Precision Drilling Corp down 5.9 pct, Diamond Offshore Drilling Inc down 3.4 pct, Ensco Plc down 3 pct