Energy Sector Update for 07/02/2018: FTI,TOT,HAL,BKEP

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Top Energy Stocks

XOM -0.23%

CVX 0.00%

COP 0.00%

SLB -0.07%

OXY 0.00%

Energy stocks were edging lower in Monday's pre-market. West Texas Intermediate crude oil for August delivery was slipping 4 cents to $74.11 per barrel in New York while the global benchmark Brent crude August contract was declining 34 cents to $78.89 per barrel. August natural gas futures were falling 3 cents lower to $2.89 per 1 million BTU. Among energy-related ETFs, United States Oil was down 0.40% while United States Natural Gas was down 1.31%.

Among energy stocks likely to move on news:

- TechnipFMC ( FTI ) Monday said it has received a contract from Total ( TOT ) for its Zinia phase II field development project offshore of Angola. The award includes engineering, procurement and construction of subsea equipment as well as related support services. Financial terms were not immediately disclosed.

In other sector news

- Halliburton Company ( HAL ) early Monday said it has signed a well construction-services agreement for all OKEA fields on the Norwegian continental shelf. The five-year base contract has two, two-year extension options, also calls for the oilfield-services gaint to utilize its Landmark's software suite in the iEnergy cloud in addition to field development planning services.

- Blueknight Energy Partners ( BKEP ) late Friday said it has agreed to sell three asphalt terminals in Lubbock and Saginaw, Texas, and Memphis, Tenn., to Ergon Asphalt & Emulsions for $90 million in cash. Net proceeds will be used to pay debt under the company's credit facility.

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 , Energy
Referenced Symbols: FTI , TOT , HAL , BKEP

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