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Sector Update: Energy Shares Down in Mid-Day Trading; Crude Oil Falls to Near $90 a Barrel

NYMEX Benchmark Crude August: (-0.94%) to $90.17

Top Energy Stocks

XOM: -1.5%

CVX: -1.3%

COP: -1.8%

SLB: -2.1%

OXY: -0.5%

Energy shares are down in mid-day trading while crude oil futures continue to slide. The August contract is down nearly 1% at $90.17 a barrel.

Light, sweet crude for August delivery is trading down 0.94% to $90.17 a barrel. In other energy futures, heating oil is down 1.38% to $2.74 a gallon while natural gas is up 0.79% to $4.22 per million British thermal units.

In energy ETFs, the United States Oil Fund (USO) is down 1.72% to $35.38. The United States Natural Gas ETF (UNG) is down 0.09% at $10.70.

In mid-day news, ADRs of BP plc ( BP ) are down following news the UK-based oil major's Russian joint-venture--TNK-BP--is planning to invest $1.8 billion in unconventional gas projects in Ukraine over the next six to seven years, MarketWatch reports.

As a result of the $1.8 billion investment in six Ukrainian shale deposits, TNK-BP will be able to produce up to 3 billion cubic meters of gas annually, the report said.

BP ADRS are down 1.24%, or $0.53, to $42.05.

Meanwhile, Samson Oil & Gas ( SSN ) said late Thursday it has agreed to acquire up to 90,000 net acres of oil and gas leases in the Fort Peck Indian Reservation in, Roosevelt County, Montana, from Fort Peck Energy Company LLC (FPEC) for an undisclosed price.

The new Roosevelt Project is being acquired in three tranches.

Samson Oil & Gas shares are up 5.59%, or $0.15, to $2.83.

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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