Top Energy Stocks
Energy stocks are higher today with the NYSE Energy Sector Index
rising nearly 1.0% and the S&P Energy Index also up just under
1.0%. Crude oil for May delivery is 14 cents higher to $88.90 per
barrel. May natural gas is ahead 4 cents at $4.31 per 1 mln
In company news, Tesoro Corp (
) is up 4.5% after the refiner announced a joint venture with the
Savage Cos. to build and operate an unloading and marine loading
facility in Vancouver, Wash., for crude oil shipped by rail.
The new facility, slated to open by 2014, is projected to
initially be able to handle around 120,000 barrels of oil per day
and eventually expanding to around 280,000 barrels. The partnership
will execute a lease agreement with Port of Vancouver authorities
for the property, expected to have a 10-year term to begin.
Overall cost of the terminal is estimated to be between $75 mln
to $100 mln.
In other sector news,
(+) NBL, (+1.8%) Plans 2-for-1 split of its common stock in the
form of a stock dividend to be distributed on May 28 to shareholder
of record on May 14. The oil and gas company also raised its
quarterly dividend by $0.03 to $0.28 per share, payable May 20 to
shareholders of record on May 6.
(-) BKEP, (-0.7%) Increases quarterly distribution by 2.2% over
the previous payout to $0.1175 per unit, payable May 15 to
unitholders of record on May 3. The pipeline company also will
$0.17875 for each of its preferred units.