Talos Energy Inc TALO:NYSE

Last Price$5.58NYSE Previous Close - Last Trade as of 7:00PM ET 9/23/20

Today's Change-0.39(6.53%)
Bid (Size)$4.47 (20)
Ask (Size)$6.86 (1)
Day Low / High$5.57 - 6.03
Volume686.3 K

Sector Update: Energy Stocks, Commodities Still Adding to Declines Near Close

3:53PM ET 7/09/2020 MT Newswires
Energy stocks extended their declines this afternoon, with the NYSE Energy Sector Index dropping 3.6% while the SPDR Energy Select Sector ETF was down 4.7%.

Front-month West Texas Intermediate crude oil settled $1.28 lower at $39.62 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude contract declined $1.01 to $42.28 per barrel. Natural gas futures fell 5 cents to $1.78 per 1 million BTU.

In company news, Talos Energy (TALO) was 5.3% lower in late Thursday trading after Mexican energy regulators asked state-run Pemex to strike a deal with Talos to jointly develop a large offshore oil find in the Gulf of Mexico, Reuters reported. According to the report, the Mexican Energy Ministry has determined Talos' recent discovery in the Zama oilfield extends into Pemex's adjacent exploration block and would review the potential resource-sharing arrangement if the companies can reach an agreement.

TechnipFMC (FTI) slid 8% on Thursday despite the oilfield-services firm and Halliburton (HAL) saying they have launched their Odassea reservoir monitoring service and enabling "intervention-less" imaging and diagnostics for subsea well operators. Halliburton shares were down 5.5%.

Noble Energy (NBL) also turned nearly 2% lower this afternoon, drifting away from a 6.4% rise earlier Thursday after the oil and natural gas producer said it has "materially" lowered its cost structure during the three months ended June 30, delivering a record-low $6.61 per barrel of oil equivalent in unit production costs. It also cut its general and administrative spending by $63 million during Q2, largely through workforce initiatives and reduced consultant and travel costs.

To the upside, Bloom Energy (BE) climbed 3.5% after the portable fuel-cells company reported a 12.9% increase in accepted Q2 installations compared with year-ago levels and a 19.5% rise over the previous quarter, rising to 306 systems during the three months ended June 30. The company is scheduled to report its full Q2 financial results on July 28.