Sector Update: Energy

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Energy stocks are mostly higher with the NYSE Energy Sector Index rising 2% and the S&P Energy Index adding 2.2%. Crude oil for August delivery is up $3.74, or nearly 4.5%, at $87.49 a barrel. August natural gas down 2 cents at $2.753 per 1 million BTU.

In company news, shares of Continental Resources Inc. ( CLR ) are up 6.5% and have touched a day high $71.71 with the oil and gas exploration and production company starting a registered exchange of up to $800 million of its 5% senior notes due 2022 that were previously issued in a private placement. The exchange is scheduled to run through July 31 at 5 p.m. ET, unless extended.

In other sector news,

(+) DUK, (+195%, hit new year highs) Completes merger with Progress Energy Inc.

(+) PTEN, (+5%) Averaged 224 rigs in operation during Q2, all in the United States.

(-) XTEX, (-1.5%) Completes acquisition of Clearfield Energy Inc. for $210 million in cash.

(+/-) FRM, (flat) Acquires certain assets from Crane Energy Flow Solutions.

(+) TYG, (0.1%) Reports net asset value of $943.0 million, or $33.69 a share.



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: CLR

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