Energy Stocks Little Changed; Synthesis Energy Rallies On Sales Partnership With GE

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Top Energy Stocks

XOM -0.11%, has turned negative

CVX -0.08%

COP -0.43%

SLB +1.38%

OXY +3.22%

Energy stocks are narrowly mixed with the NYSE Energy Sector Index gaining about 0.2% while the S&P Energy Index currently is down less than 0.1%. Crude oil for May delivery is down 56 cents to $96.51 per barrel. May natural gas is off 7 cents to $3.95 per 1 mln BTU.

In company news, Synthesis Energy Systems Inc. ( SYMX ) is up nearly 21% at $1.28 a share, earlier rising within close range of its 52-week high of $1.53 after announcing plans to jointly market its SES gasification technology with General Electric Co's ( GE ) GE Packaged Power subsidiary for small-scale power generation. GE shares are up about 1.1% at $23.33 each.

According to the companies, GE's fuel-flexible aeroderivative gas turbines are well suited to use SYMX's syngas fuels produced from ultra-low quality coal, coal wastes and refuse. SYMX and GE recently completed preliminary evaluation of their combined technologies, with the companies now working together on a non-exclusive basis to identify prospective customers seeking to generate between 50 to 10 megawatts of electric power.

In other sector news,

(+) PEIX, (+0.7%, but still near year lows) Closes first trance of new financing transaction, issuing $6.0 mln of its Series A subordinated convertible notes. Extends $2.6 mln of plant debt by three years to June 2016 and retires $3.5 mln of debt due 2016. Also raised plant credit facility by $5 mln.

(-) FSI, (-7.4%, nearer year lows) Reports $0.08 per share GAAP net loss, reversing a $0.01 profit last year and trailing analyst expectations by $0.05. Revenue climbs 14.1% to $3.85 mln, topping the analyst consensus by $180,000.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: GE , SYMX

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