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Energy Sector Update for 12/20/2018: FTI, NGL, GDP, XOM, CVX, COP, SLB, OXY

Top Energy Stocks:

XOM: -0.47%

CVX: -0.68%

COP: -0.62%

SLB: -0.74%

OXY: -0.06%

Most energy stocks were trading lower pre-market Thursday. West Texas Intermediate crude oil for February delivery was $1.54 lower to $46.63 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude February contract lost $1.48 to $55.76 per barrel and January natural gas futures were 14 cents higher at $3.87 per 1 million BTU.

In other sector news:

(+) TechnipFMC ( FTI ) was slightly lower after saying it obtained a significant engineering, procurement support and construction management services contract from Neste for the expansion of the Finnish oil refiner's renewable products refinery in Singapore.

(=) NGL Energy Partners ( NGL ) was unchanged after announcing a definitive deal to sell its South Pecos water disposal assets in Texas to a unit of WaterBridge Resources for $238.8 million in cash, plus additional consideration subject to meeting certain criteria.

(=) Goodrich Petroleum ( GDP ) was flat even saying it will cut its capital budget guidance for 2019 by $40 million to a new range of $90 million - $100 million.

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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