On Friday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -0.76% to $11.79, hitting its lowest level, as Crude oil fell about 2 percent on Friday, the first decline after three days of gains, as worries over the Greek fiscal crisis, weaker oil products prices and pre-weekend profit taking undercut the market.
Brent crude LCOc1 fell $1.24, or 1.9 percent, to settle down for the first time since Monday at $63.02 a barrel, according to Reuters.
U.S. crude CLc1 slipped 84 cents, or 1.4 percent, to $59.61.
For the week, Brent fell 1.3 percent, and U.S. crude half a percent. Reuters Reports.
Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas and natural gas liquids (NGL) from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.
Shares of Schlumberger Limited (NYSE:SLB), declined -2.27% to $86.62, during its last trading session.
Schlumberger Chief Executive Paal Kibsgaard plans to talk about buying stake in Eurasia Drilling during a meeting with Russian President Vladimir Putin, Russia’s First Deputy Prime Minister Igor Shuvalov was quoted as saying by Interfax, according to Reuters.
In March, Schlumberger said it planned to buy a 45.65 percent stake in oilfield services company Eurasia for about $1.7 billion. But the deadline for the deal had to be extended after queries from Russian regulators. Reuters Reports.
Schlumberger Limited supplies technology, integrated project administration, and information solutions to the oil and gas exploration and production industries worldwide. The company operates through Reservoir Characterization Group, Drilling Group, and Production Group segments.
Gold was little changed on Friday, on track for a second weekly gain, bolstered by the Federal Reserve’s caution on U.S. interest rate hikes and worries over Greece, but a recovering dollar capped the upside.
Gold had risen to a three-week high on Thursday, due to a softer dollar after Fed policymakers said a hike would be appropriate only after further improvement in the labour market and greater confidence that inflation would rise.
Among Gold stocks, IAMGOLD Corp. (NYSE:IAG), ended its last trade with -2.53% loss, and closed at $2.31.
IAMGOLD Corporation primarily engages in the exploration, development, and operation of gold mining properties. It also explores for silver and copper deposits. The company holds interests in four operating gold mines, in addition to exploration and development projects located in Africa, South America, and Canada.
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