NYMEX Benchmark Crude August: (+1.0%) to $96.65
Top Energy Stocks
Energy shares are firm as crude oil futures jump to top $96 a
barrel, while the broader market holds the line in positive
Light, sweet crude for August delivery traded up 1% to $96.65 a
barrel. In other energy futures, heating oil is up 0.88% to $3.11 a
gallon while natural gas is down 3.06% to $4.51 per million British
In energy ETFs, the United States Oil Fund (
) is up 1.04% to $37.94. The United States Natural Gas ETF (
) is up 2.44% at $11.32.
In mid-day news, Lucas Energy, Inc. (
) is up more than 7% to $2.92 today after the company announced
that it had had gross production in May of nearly 8,000 bbls of oil
and more than 4.6 MMCF of natural gas.
Lucas is anticipating increasing operated gross production this
year due to a new drilling program that includes the Rainey Unit
No.1H well currently drilling as a new horizontal well in the
Austin Chalk formation.
The company is planning at least three new Austin Chalk
horizontal wells, and three new Austin Chalk laterals from old well
bores. The outside operated Eagle Ford program is anticipated to
add another two to three wells.
Meanwhile, Jefferies reportedly upgraded Transocean (
) to "buy" from "hold."
The firm based the upgrade on signs of improvement in the
offshore drilling cycle and a modest pricing recovery.
Price target is raised to $80 from $79.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.