Oklahoma energy stocks suffered as crude prices tumbled Thursday

  • September 15, 2022

Don't Sweat the Crash in Oil Prices | AIER

 

Not only did oil futures take a big plunge on Thursday, so did Oklahoma energy stocks. Some firms saw losses of up to 11% as crude oil prices reached a one-week low.

The drop in prices came as a tentative agreement was reached to avert a nationwide rail strike. Plus, expectations arose over weaker global demand and an expected large interest rate hike coming next week.

West Texas Intermediate crude for October delivery dropped $3.38 to $85.10 a barrel on the New York Mercantile Exchange.

Global benchmark Brent crude for November delivery fell $3.26 to settle at $90.84 a barrel on ICE Futures Europe.

October natural gas fell 79 cents to $8.32 per 1,000 cubic feet.

Oklahoma energy stocks suffered the same kind of losses in Thursday’s trading with an 11% drop recorded by Empire Petroleum Corporation and a 7% tumble for Laredo Petroleum. Others with losses were Devon Energy, Gulfport Energy, Helmerich & Payne, Mammoth Energy, Ovintiv and SandRidge Energy.

 

Alliance Resource Partners, L.P.
25.03 USD−0.69 (2.68%)
Chesapeake Energy Ord Shs
103.59 USD−0.97 (0.93%)
Continental Resources, Inc.
70.89 USD−0.98 (1.36%)
Coterra Energy Inc
30.77 USD−1.46 (4.53%)
Devon Energy Corp
69.48 USD−2.69 (3.73%)
Empire Petroleum Corporation
12.18 USD−1.51 (11.03%)
Gulfport Energy Corp
97.96 USD−2.15 (2.15%)
Helmerich & Payne, Inc.
44.14 USD−2.25 (4.85%)
LSB Industries, Inc.
16.49 USD−0.84 (4.82%)
Laredo Petroleum Inc
70.05 USD−5.08 (6.76%)
Magellan Midstream Partners, L.P.
51.57 USD−0.65 (1.24%)
Mammoth Energy Services Inc
4.37 USD−0.29 (6.22%)
Matrix Service Co
5.15 USD−0.11 (2.09%)
NGL Energy Partners LP
1.45 USD−0.040 (2.68%)
OGE Energy Corp.
40.90 USD−0.81 (1.95%)
ONE Gas Inc
79.00 USD−1.56 (1.94%)
ONEOK, Inc.
62.46 USD−1.00 (1.58%)
Ovintiv Inc
51.32 USD−2.32 (4.33%)
PHX Minerals Inc
3.50 USD−0.12 (3.31%)
SandRidge Energy Inc.
18.70 USD−0.71 (3.66%)
Unit Corp
60.00 USD+0.20 (0.33%)
Williams Companies Inc
32.83 USD−0.62 (1.87%)
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 Other energy stocks experienced the same kind of losses according to the Texas Energy Report.

Apache (APA) down 0.25 at 41.49 – change 0.60%

Cheniere (LNG) down 2.07 at 172.10 – change 1.19%

Chevron (CVX) down 2.65 at 160.62 – change 1.63%

ConocoPhillips (COP) down 2.15 at 115.56 – change 1.83%

Diamondback Energy (FANG) down 5.54 at 134.63 – change 3.96%

Energy Transfer LP (ET) up 0.02 at 12.03 – change 0.16%

Enterprise Products Partners (EPD) down 0.48 at 26.25 – change 1.80%

EOG Resources (EOG) down 4.17 at 122.56 – change 3.30%

ExxonMobil (XOM) down 2.84 at 94.83 – change 2.91%

Kinder Morgan (KMI) down 0.20 at 18.32 – change 1.08%

Marathon Oil Corp. (MRO) down 0.57 at 26.80 – change 2.05%

National Oilwell Varco (NOV) down 0.31 at 17.59 – change 1.74%

Occidental Petroleum (OXY) down 2.11 at 65.09 – change 3.14%

Phillips 66 (PSX) down 4.13 at 81.87 – change 4.81%

Pioneer Natural Resources (PXD) down 7.42 at 244.28 – change 2.95%

Tellurian Inc. (TELL) down 0.29 at 3.86 – change 6.99%

Valero (VLO) down 4.43 at 105.16 – change 4.05%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 3.13 at 100.19 – change 3.03%

CenterPoint (CNP) down 0.57 at 32.18 – change 1.75%

Entergy (ETR) down 3.41 at 115.30 – change 2.88%

Jerry Bohnen