Referenced Stocks

Energy Stocks Broadly Higher as Crude Continues Wide Swings

By Midnight Trader July 03, 2012, 12:59:26 PM EDT

Top Energy Stocks

XOM +1%

CVX +1.4%

COP +1.2%

SLB +3.7%

OXY +2.4%

Energy stocks are mostly higher with the NYSE Energy Sector Index and the S&P Energy Index both adding 2%. Crude oil for August delivery is up $3.74, or nearly 4.5%, at $87.49 a barrel. August natural gas down 2 cents at $2.753 per 1 million BTU.

In company news, shares of Continental Resources Inc. ( CLR ) are up 6.5% but off day highs with the oil and gas exploration and production company starting a registered exchange of up to $800 million of its 5% senior notes due 2022 that were previously issued in a private placement. The exchange is scheduled to run through July 31 at 5 p.m. ET, unless extended.

In other sector news,

(+) DUK, (+195%, hit new year highs) Completes merger with Progress Energy Inc.

(+) PTEN, (+5%) Averaged 224 rigs in operation during Q2, all in the United States.

(-) XTEX, (-1.3%) Completes acquisition of Clearfield Energy Inc. for $210 million in cash.

(+) FRM, (+2.5%) Acquires certain assets from Crane Energy Flow Solutions.

(+/-) TYG, (0.0%) Reports net asset value of $943.0 million, or $33.69 a share.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: CLR



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