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EGY

Energy Sector Update for 12/14/2015: EGY,OII,AMID

Top Energy Stocks

XOM +1.91%

CVX +2.88%

COP +2.18%

SLB -0.20%

OXY +0.67%

Energy stocks have turned lower again in late trade, with the NYSE Energy Sector Index declining about 0.3% while shares of energy companies in the S&P 500 were down less than 0.1% as a group. Crude oil for January delivery settled 69 cents higher at $36.31 per barrel while January natural gas futures dropped 10 cents lower at $1.89 per 1 million BTU.

In company news, Vaalco Energy ( EGY ) fell Monday with the oil and natural gas producer getting little apparent help today from the successful completion of its second well drilled into the Dentale Formation offshore of Gabon.

The North Tchibala 2-H well recently was brought online at a stabilized rate of around 500 gross barrels of oil per day, or about 122 barrels net revenue interest to VAALCO. According to the company, the quality of the reservoir indicates the possibility for a higher flow rate than has been achieved thus far based on production tests in nearby exploration wells.

EGY shares were down just over 7% at $1.45 each, or just 1 cent over its session low.

In other sector news,

(-) OII, Cut to Sector Perform from Sector Outperform at Scotia Howard Weil.

(-) AMID, Executive board chairman and CEO Steve Bergstrom retires but wil remain a board member. Names former Enable Midstream Partners LP Chief Executive Lynn Bourdon to be CEO and board chairman.

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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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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