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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

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

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