Energy Stocks Falling With Another Drop in Crude Prices; FieldPoint Petroleum Rises on New Partnership

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Top Energy Stocks

XOM -0.7%

CVX -0.74%

COP -0.4%

SLB -2.3%

OXY -2.7%

Energy stocks are broadly lower today with the NYSE Energy Sector Index sinking 0.9% while shares of energy companies in the S&P 500 are down 1.0% as a group. Crude oil for January delivery is down $1.40 at $92.28 per barrel while December natural gas is up a penny to $3.83 per 1 million BTU.

In company news, Fieldpoint Petroleum ( FPP ) is up 3% after this morning announcing a joint exploration agreement with Riley Exploration Group.

The companies plan on drilling up to 12 horizontal wells next year, pooling their interests within the geographical boundaries of the Serbin Field in south Texas. The firms also will share pro-rated expenses and revenues, with FPP receiving about 25% based on its contributed lease acreage.

In other sector news,

(+) NS, (+2.3%) CEO Curt Anastasio announces plans to retire from the pipeline firm on Dec. 31. Executive vice president and general counsel Brad Barron named to succeed Anastasio.

(-) LIME, (-4.3%) Energy-services firm fires CEO John O'Rourke and promotes Chief Operating Officer Adam Procell as his replacement. O'Rourke remains a LIME board member and is standing for re-election at the company's Dec. 3 annual meeting.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: FPP

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