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Energy Sector Update for 07/13/2018: HAL,TUSK,PKD


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Energy stocks were starting to slip in Friday's early session. In commodities trading, West Texas Intermediate crude oil for August delivery was slipping 14 cents to $70.19 per barrel in New York while the global benchmark Brent crude September contract was declining 30 cents to $74.15 per barrel. August natural gas futures were 4 cents higher at $2.80 per 1 million BTU. Among energy-related ETFs, United States Oil was falling almost 0.3% this morning while United States Natural Gas was unchanged.

Among energy stocks moving on news:

- Halliburton ( HAL ) early Friday was sliding almost 1% lower after late Thursday approving an $0.18 per share dividend, unchanged from the most recent distribution to investors of the oilfield-services company. The dividend is payable Sept. 26 to shareholders of record on Sept. 5.

In other sector news

= Mammoth Energy Services ( TUSK ) late Thursday said Gulfport Energy Corp ( GPOR ) has extended the term of its existing contract with Mammoth's Stingray Pressure Pumping subsidiary by an extra 39 months through Dec. 31, 2021. The original contract with Stingray to provide pressure pumping and hydraulic fracturing had been set to expire Sept. 30. The service area of the contract also was expanded to include both Ohio and Oklahoma, Mammoth said.

= Parker Drilling Co ( PKD ) late Thursday said its board of directors has authorized a 15-for-1 reverse stock split prior to the July 27 market open, which is expected to lift its share price above $1 and bringing its stock back in compliance with New York Stock Exchange rules for minimum share price of listed companies. The company also said it has adopted a short-term shareholder rights plan it said will protect the best interests of shareholders by keeping any party from making an unsolicited takeover bid of the oilfield-services company.

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: HAL , TUSK , GPOR , PKD


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