Top Energy Stocks
Energy stocks are higher today with the NYSE Energy Sector Index rising 0.4% while shares of energy companies in the S&P 500 are ahead 0.5% as a group. Crude oil for October delivery settled $1.17 lower at $105.42 per barrel. October natural gas added a penny to $3.74 per 1 million BTU.
In company news, Hercules Offshore Inc. ( HERO ) is up 0.7% at $7.64 a share, just a few pennies off its intra-day high after the shallow-water and marine services company today priced a $300-million private placement of 7.5% senior notes maturing in 2021 at par.
HERO said it plans to use the net proceeds from this offering, together with cash on hand, to fund a proposed tender offer and consent solicitation for its 10.50% senior secured notes due 2017 as well as redeeming any notes not purchased in the tender offer.
In other sector news,
(+) TPLM, Climbs to new 52-week high after today plans to expand its Caliber Midstream Partners pipeline network in North Dakota, including a a new pipeline with capacity to carry 50,000 barrels per day to a new storage facility in Alexander, N.D.
(-) ALJ, Closes on $150-mln private offering of convertible senior notes.
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