Top Energy Stocks
Energy stocks are mostly higher today with the NYSE Energy
Sector Index climbing about 0.5% and the S&P Energy Index
rising nearly 0.8%. Crude oil for February delivery is down 35
cents at $92.57 per barrel. February natural gas is up 5 cents to
$3.25 per 1 million BTU.
In company news, Transocean Ltd. (
) is up nearly 4% with the oilfield services firm agreeing to pay
$1.4 billion to settle U.S. government charges over its role in the
Deepwater Horizon oil spill in Gulf of Mexico oil spill after
admitting its crew was partly responsible for the mishap. Nine of
the 11 workers killed in the April 2010 accident were RIG
The company previously set aside $1.5 billion for a potential
settlement with the U.S. Department of Justice and will now pay $1
billion in civil penalties and $400 million in criminal
Still pending is a settlement with a plaintiffs committee
representing more than 100,000 individuals and business owners
throughout the Gulf region claiming economic and medical
In other sector news,
(+) HNR, (+12.8%, hit new 52 week highs) Finds more oil off the
coast of Gabon, with its Saipem Scarabeo 3 well encountering a
72-feet oil column as well as another 123 feet of pay in stacked
reservoirs in the Dentale Formation.
(=) LPH, (0.0%) Denies allegations posted yesterday by an
independent research and trading firm it misrepresented the size
and scope of its petroleum distribution business, saying the
GeoInvesting.com report contains numerous errors of fact. Trading
is on hold today.
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