Top Energy Stocks
Energy shares were lower in pre-market trading Wednesday, while
crude-oil futures were trading higher.
Light, sweet crude oil for March delivery was up 0.69% at
$103.14 per barrel. In other energy futures, heating oil was down
0.04% at $3.10 per gallon while natural gas was up 6.1% at $5.89
per million British thermal units.
In energy ETFs, the United States Oil Fund (
) was up 0.44% at $36.82. The United States Natural Gas ETF (
) was up 3.9% at $27.24.
In other energy news, Devon Energy (
) has entered into a definitive agreement to sell the majority of
its Canadian conventional assets to Canadian Natural Resources
Limited for $2.8 billion.
The sale excludes the company's Horn River, Lloydminster and
thermal heavy oil assets located in Canada. At December 31, 2013,
proved reserves associated with the divestiture totaled
approximately 170 million barrels equivalent. The transaction is
subject to customary terms and conditions and is expected to close
early in Q2 2014.
Devon also reported Q4 EPS of $1.10, just ahead of the $1.07 per
share the Street expected. DVN shares were up 2.1% in recent
pre-market trading at $64.20.
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