Another slide in U.S. crude oil prices resulted in another rumble across the oil and gas industry.
West Texas Intermediate crude for January delivery dropped 8 cents to $45.52 in Wednesday’s trading on the New York Mercantile Exchange.
Global benchmark Brent crude for February delivery managed a 14-cent increase as prices finished at $48.98 on the ICE Futures Europe.
Several Oklahoma energy companies suffered setbacks in Wednesday’s trading as oil prices tumbled. But one company, Laredo Petroleum managed a nearly 7% gain as its shares jumped $1.19 and finished the day at $19.21.
Two of the biggest losers for the day were Mammoth EnergyServices and Chesapeake Energy.
Shares of both fell 10% as Mammoth dropped 31 cents to finish at $2.88 and Chesapeake Energy fell 22 cents to settle at $1.98.
Alliance Resource Partners, L.P. managed a 3 cent increase to $5.08 for not quite a 1% gain. Blueknight Energy Partners LP finished the day up 2 cents for a 1.12% gain to $1.81. Continental Resources, Inc. fell 24 cents for a 1.29% slide to $18.33.
Cypress Environmental Partners LP closed up 4 cents for a gain of 1.71% to $2.38. Devon Energy Corp shares dropped 26 cents for a 1.63% slide to $15.71. Enable Midstream Partners LP ended at $5.87 with a 7 cent increase or 1.29% gain.
Gulfport Energy Corporation slid nearly 3% to just under 9 cents per share. Helmerich & Payne, Inc. closed with a 2.53% loss of 64 cents to $24.64. LSB Industries, Inc. lost 6 cents or 2.39% and settled at $2.66.
Magellan Midstream Partners, L.P. lost 50 cents or slightly more than 1% and finished at $44.38 per share. Matrix Service Co. ended down 22 cents which amounted to a 2.27% loss to $9.68. OGE Energy Corp. finished up 26 cents for a nearly 1% gain to $32.81.
ONE Gas Inc closed with a 54 cent jump or about a 1% gain to $79.42. ONEOK, Inc. on the other hand fell 59 cents for a 1.45% drop to $40.22. Ovintiv Inc lost 21 cents for a 1.39% decline to $14.89 per share.
PHX Minerals Inc saw a 4 cent increase in shares or about a 2% gain to $2.10. SandRidge Energy Inc. did just the opposite, losing 4 cents a share for a drop of 1.32% to $2.99. WPX Energy Inc lost 14 cents and slid 1.71% to $8.03. Williams Companies Inc. finished up 30 cents for a 1.36% gain to $22.4.0.
According to the Texas Energy Report, other stocks reacted similarly.
Chevron (CVX) down 1.11 at 90.44 – change 1.21%
Concho Resources (CXO) down 0.05 at 62.13 – change 0.09%
ConocoPhillips (COP) up 0.02 at 42.70 – change 0.04%
Diamondback Energy (FANG) up 1.19 at 47.33 – change 2.57%
Energy Transfer LP (ET) down 0.25 at 6.49 – change 3.71%
Enterprise Products Partners (EPD) down 0.29 at 20.67 – change 1.34%
EOG Resources (EOG) up 0.81 at 52.96 – change 1.55%
ExxonMobil (XOM) up 0.56 at 42.80 – change 1.32%
Kinder Morgan (KMI) down 0.15 at 14.61 – change 1.02%
Marathon Oil Corp. (MRO) up 0.08 at 7.15 – change 1.13%
National Oilwell Varco (NOV) up 0.09 at 14.44 – change 0.62%
Occidental Petroleum (OXY) up 0.27 at 19.39 – change 1.41%
Parsley Energy (PE) up 0.03 at 14.21 – change 0.21%
Phillips 66 (PSX) up 1.38 at 68.77 – change 2.04%
Pioneer Natural Resources (PXD) up 0.16 at 114.43 – change 0.14%
Valero (VLO) down 0.18 at 58.80 – change 0.31%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.11 at 83.60 – change 0.13%
CenterPoint (CNP) down 0.27 at 22.23 – change 1.20%
Entergy (ETR) down 0.83 at 104.46 – change 0.79%