Whiting Petroleum: Falls on report of deal talks with Abraxas Petroleum
15/10/2019 15:18
** Shares of oil and gas producer WLL.N fall 9.2% to $6.58
while shares of Abraxas Petroleum Corp AXAS.O rise 12.5% to
$0.42
** WLL is in deal talks with San Antonio-based Abraxas,
Reuters reports urn:newsml:reuters.com:*:nL2N26Z16N
** Weak oil and gas prices and poor shareholder returns have
soured investors on U.S. shale, dragging down many producers'
shares this year
** The S&P Oil and Gas Exploration & Production ETF XOP.N
is off 21% this year compared with an 18% gain in the S&P 500
index .SPX
** WLL is down 70.2% this year and AXAS has fallen 60.5%
(Reporting by Arunima Kumar in Bengaluru)
((Arunima.Kumar@thomsonreuters.com))
Recent news on Abraxas Petroleum
See all newsBrief: Abraxas - On April 12, 2021, Morgan Stanley Capital Group Sent Notice Of Events Of Default, Early Termination With Respect To Hedging Contracts
Biden to pause oil and gas leases, cut subsidies in climate action (updated)
Analysis: U.S. shale oil just had its worst year and the pain could bleed into 2021
Brief: Abraxas Petroleum Regains Compliance With Nasdaq Continued Listing Standards
Brief: Abraxas Petroleum Corp says Approved Reverse Stock Split Of Co’S Authorized, Issued And Outstanding Shares Of Common Stock At Ratio Of 1-For-20