NEW YORK (MarketWatch) -- Natural-gas shares led declines among energy stocks Tuesday, as oil and gas companies dodged the first bullet of the Atlantic hurricane season with the path of Hurricane Bertha projected to miss energy infrastructure in the Gulf of Mexico.

 The Amex Oil Index (XOI:amex oil index
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Last: 1,419.42-36.61-2.51%

10:28am 07/08/2008

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XOI 1,419.42, -36.61, -2.5%) fell 1.6% to 1,433.
The Amex Natural Gas Index (XNG:amex natural gas index
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Last: 663.65-27.54-3.98%

10:28am 07/08/2008

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XNG 663.65, -27.54, -4.0%) dropped 2.1% to 676.
The Philadelphia Oil Service Index ($OSX:Philadelphia Oil Service Sector Index
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Last: 318.52-9.93-3.02%

10:28am 07/08/2008

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$OSX 318.52, -9.93, -3.0%) sank 1.7% to 323.
In energy trading, benchmark crude futures fell more than 2%, retreating below $137 a barrel on the New York Mercantile Exchange. See full story.
Shares of ConocoPhillips (COP:conocophillips com
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Last: 88.15-2.21-2.45%

10:28am 07/08/2008

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COP 88.15, -2.21, -2.4%) fell 2% to $88.47.
The No. 3 U.S. oil company said daily output for the second quarter will fall about 3% from the first quarter, citing planned maintenance activities. See full story.
On the rise, shares of Transocean Inc. (RIG:transocean inc new shs
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Last: 140.80+0.20+0.14%

10:28am 07/08/2008

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RIG 140.80, +0.20, +0.1%) added 1% to $142.09.
The company said it won a five-year contract for its drillship Deepwater Pathfinder. The deal struck wit a subsidiary of Eni SpA (E:ENI S.p.A.
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Last: 72.03-0.65-0.89%

10:28am 07/08/2008

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E 72.03, -0.65, -0.9%) is potentially worth up to a maximum of $1.19 billion, a figure that excludes revenue for cost escalations.
Transocean said the contract, which is for drilling operations primarily in U.S. waters of the Gulf of Mexico, is scheduled to start in March 2010. It's the latest in a series of pacts between Transocean and Eni, the Italian oil company.