Skip to main content

Market Overview

Offshore Drillers Drilled (HAL, RIG, APC)

Share:

Shares of offshore drilling companies are getting drilled (pun intended) today after President Obama's decision to close U.S. waters to deep-sea drilling.

Obama said Thursday he would extend a moratorium on permits for new deepwater wells. Drillers also will be forced to suspend actions on 33 deepwater exploratory wells in the Gulf.

The move won't touch rigs that are currently producing nearly 2 million barrels a day. But companies that have been exploring the ocean floor for new oil sources will see an immediate impact.

Halliburton Company (NYSE: HAL) is down more than 7.7 percent to $24.91. Transocean (NYSE: RIG) is down 5 percent to $56.69. Anadarko Petroleum (NYSE: APC) is down 5.8 percent to $52.37.

 

Related Articles (APC + HAL)

View Comments and Join the Discussion!

Posted-In: ObamaPolitics Intraday Update Movers General