Top Energy Stocks
Energy stocks were higher with the NYSE Energy Sector Index
(^NYE) rising about 1% and the S&P Energy Index (^IXE) climbing
almost 1.5%. Crude oil for June delivery (CLM13.NYM) was up 79
cents to $96.81 per barrel while June natural gas (NGM13.NYM) cents
was up 8 cents to $4.14 per 1 mln BTU.
In company news, Chesapeake Energy Corp. (
) was up 3.8% to $21.04 after naming Doug Lawler as its new CEO,
replacing Aubrey McClendon, who stepped down April 1.
Lawler currently is senior vice president of international and
deepwater operations at Anadarko (
). He started his career with Kerr McGee Corp, which ADP acquired
"There is significant value in Chesapeake's asset base and the
growth potential of the Company is tremendous," Lawler said in a
prepared remarks. "I look forward to accelerating the momentum that
the Chesapeake team has built to generate value for our
shareholders in the years ahead."
In other sector news,
(+) PXP, (+7.2%) Declared a special dividend of $3 a share,
conditioned on the oil company completing its merger with
Freeport-McMoRan Copper & Gold Inc. (
). PXP shareholders are voting on the deal today. FCX shares are up
(-) RIG, (-0.6%) Named in a suit filed late Friday by Texas
officials seeking damages connected to the April 2010 explosion and
resulting oil spill at the Deepwater Horizon offshore drilling
platform. Other defendants include BP (
), Anadarko (
) and Halliburton (HAL).