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Energy stocks are still quiet this morning with the NYSE Energy index (^NYE) finishing with a 0.50% gain during yesterday's regular session and the S&P Energy index (^IXE) rising 0.20%.

Crude oil is higher this morning with the April NYMEX contract gaining 13 cents at $106.41 per barrel while April Brent futures are up nearly 1% at $124.12 per barrel, climbing $1.22 after earlier touching $124.50. March natural gas is up almost 3 cents at $2.669 per 1 million British Thermal Units.

In earnings news from last night, Whiting Petroleum ( WLL ) gained nearly 3% in after hours trading after reporting Q4 earnings of $1.05 a share versus the $0.94 a share Street call. Revenues rose 20.6% to $498.6 million, also beating analysts' estimates. The company produced 6.50 million barrels of oil equivalent during the quarter, with 5.45 million barrels made up by crude oil and natural gas liquids and the remaining 16% comprised of natural gas production. Daily production was 70,685 barrels up from 67,900 barrel per day in the year-ago quarter.

After an initial surge, Penn Virginia Corp ( PVA ) shares lost nearly 5% in late trading last night when the independent oil and gas company's reported Q4 earnings that beat analysts' estimates but also offered 2012 guidance that fell short of most forecasts. PVA posted a $0.14 net loss during its latest reporting period, topping both the $0.24 a share loss in its year-ago quarter as well as the $0.27 a share loss that analysts, on average, had been expecting, according to Thomson Reuters. PVA also forecast 2012 product revenues in a range between $288 million to $319 million while the Wall Street consensus is for $344.57 million in revenues this year. The company did not offer specific EPS guidance.

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