"Oil-Price Swoon Hits Energy Firms’ Shares"

"The share-price boom at U.S. energy firms has gone bust, due to slumping global growth and tumbling crude prices.

Companies that drill for oil and natural gas and provide services at the wells were among the most popular investor bets earlier this year, riding the coattails of a decadelong renaissance in U.S. oil and natural-gas production.

The S&P oil-and-gas equipment-and-services subsector surged 23% in 2014 through June 20, the day U.S.-traded crude-oil futures hit their 2014 high at $107.26 a barrel. Among services firms, Nabors Industries Ltd. NBR -0.62% surged 68% in that period, Halliburton Co. HAL -1.31% rose 38% and National Oilwell Varco Inc. NOV +0.33% rose 11%."

Dan Strumpf reports for the Wall Street Journal October 8, 2014.

SEE ALSO:

"Oil Prices Keep Falling. Why That's Bad News for Russia." (Christian Science Monitor)

"Saudi Arabia Oil-Price Cuts Said to Be Aimed at Aiding Refiners" (Bloomberg)

"Can Saudis Beat North Dakota in An Oil Price War?" (MarketWatch)

"Iran Backs Down on OPEC Sending Brent Oil Price Tumbling" (Telegraph)

"As Oil Prices Tank, New Era of Abundance Seen Dawning" (Reuters)

"How Low Will Oil Stocks and Crude Oil Go?" (Forbes)

"Shale Boom Tested as Sub-$90 Oil Threatens U.S. Drillers" (Bloomberg)