Energy shares are trading higher in mid-day trading as crude oil
futures trade up 0.6% to $107.35 a barrel. In energy ETFs, the
United States Oil Fund (
) is up 0.73% to $42.91. The United States Natural Gas ETF (
) is down 1.11% to $11.37. In mid-day energy news, Lucas Energy (
) is up after it says it entered into a joint venture agreement
with Marathon Oil (East Texas) LP, a subsidiary of Marathon Oil
) to develop the Eagle Ford and Buda formations in Wilson County,
Texas. The Marathon affiliate has acquired 50% of the leasehold
interest rights, representing approximately 1,000 net acres (below
the base of the Austin Chalk formation) held by Lucas in a majority
of Lucas' leases in Wilson County, Texas.
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