Sector Update: Energy

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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 ( USO ) is up 0.73% to $42.91. The United States Natural Gas ETF ( UNG ) is down 1.11% to $11.37. In mid-day energy news, Lucas Energy ( LEI ) is up after it says it entered into a joint venture agreement with Marathon Oil (East Texas) LP, a subsidiary of Marathon Oil Corp. ( MRO ) 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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This article appears in: Investing , Commodities

Referenced Stocks: LEI , MRO , UNG , USO

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