Stock prices for the energy sector were down as the stock market opened down.
The energy industry has been struggling to gain traction following the release of a federal report on the impact of climate change on energy markets.
The study, released last week, concluded that the U.S. energy industry is vulnerable to a number of factors, including climate change and rising energy costs, which will likely continue for the foreseeable future.
The company is not alone in facing the challenges.
The Standard & Market Index for U.K. energy stocks dropped 2.6 percent.
The Dow Jones Industrial Average dropped more than 6 percent, while the S&P 500 fell 4.5 percent.
Energy stocks, however, were able to gain some traction this week.
Energy prices have been trending lower for weeks, as global demand has dropped due to the ongoing crisis in the Middle East.
It has also taken longer for U,S.
shale producers to recover, which has led to a sharp drop in oil prices.