Energy-Sector Benchmarks Outperform Broader Stock Market
2009年1月17日 - 1:02AM
Dow Jones News
By Steve Gelsi
Energy stocks outpaced gains in the broader equities market
Friday, as the sector caught a lift from a combination of rising
crude prices and investors' relief over the latest government
effort to shore up some of the largest U.S. financial
institutions.
Crude-oil prices were near flat after rising more than 2% in
early futures trading.
The Amex Oil Index (XOI) rose 2.4% to 949, with shares of
component Exxon Mobil (XOM) rising 1.7% to $77.97. Anadarko
Petroleum (APC) saw its shares add 3.5% to $39.22.
The Amex Natural Gas Index (XNG) gained ground, up 2.3% to
373.
The Philadelphia Oil Service Index (OSXX) rose 1% to 122.
One noteworthy decliner was Weatherford International (WFT),
shares of which gave up 3% to $10.78.
Analysts at Pritchard Capital Partners said Mexico's state-run
oil giant, Pemex, is preparing to fine the company for execution
delays on drilling contracts in the Chicontepec region.
The company is 34 wells short of an agreement to drill 249 wells
last year in the basin, according to Dow Jones information.
"We believe this will weigh on the stock, as the company has
earnestly and repeatedly defended its execution timing, knowledge
of the drilling conditions, and pricing relative to the cost
structure in the country over the seven months since the $870
million deal announcement," Pritchard analysts noted.
The Houston-based company's continuing to pursue two 500-well
tenders announced by Pemex in December.
-Steve Gelsi; 415-439-6400; AskNewswires@dowjones.com
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