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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