Top Energy Stocks
Energy shares were generally flat in pre-market trade Monday as crude oil futures slid.
Light, sweet crude oil for December delivery was down 1.08% at $73.25 per barrel. In other energy futures, heating oil was down 1.0% at $2.35 per gallon while natural gas was up 3.18% at $3.55 British thermal units.
In other energy news, Paragon Offshore ( PGN ) Monday reported that it paid $112.4 million to acquire 52.8 million shares, or 55.8% of Prospector Offshore Drilling (PROS:OSE), a Norwegian offshore drilling company listed on the Oslo Axess.
Paragon Offshore, an offshore rig contractor, said it intends to launch a mandatory tender offer for the remaining outstanding shares of PROS as mandated by Luxembourg and Norwegian law. PROS operates in the North Sea, and reported contracts with a backlog of $384 million.
Shares in Paragon Offshore were unchanged during Monday's pre-market trading session at $4.77. Over the past 52 weeks, the company has traded between $4.45 and $17.50.
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