Sector Update: Energy Lower, Abraxas Q3 Results Disappoint

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Dow Jones U.S. Oil & Gas Index: 535.67 Monday regular session close

NYMEX Benchmark Crude: +0.77 (+0.89%) to 87.30

Top Energy Stocks

XOM: -0.54%

CVX: -1.19%

SLB: -1.08%

OXY: 0.00%

COP: -0.92%

Energy issues are mostly lower before the bell as oil prices fall on renewed concerns about the global economy. Geopak Holdings Ltd ( GPK ) drilled and tested a new well in Chile. The energy producer said that the projected production rate for the well is between 600 and 800 barrels per day. Abraxas Petroleum Corp ( AXAS ) is down over 5% pre-market on Nasdaq as the company reported a third quarter loss that was worse than expected. Contango Oil & Gas Co. ( MCF ) is one of three companies that will join the S&P SmallCap Index. Brent crude is down nearly 1% at $85.91 on NYMEX.

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

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This article appears in: Investing , Commodities
More Headlines for: AXAS , GPK , MCF


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