Sector Update: Energy Shares Higher as Crude Futures Top $107 a Barrel

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NYMEX Benchmark Crude May: (+0.6%) to $107.35

Top Energy Stocks

XOM: +0.5%


CVX: +1.0%

COP: -0.1%

SLB: +1.2%

OXY: +0.7%

Energy shares are trading higher in mid-day trading as crude oil futures trade up 0.6% to $107.35 a barrel.

In other energy futures, heating oil is up 0.16% to $3.11 a gallon while natural gas is down 0.84% to $4.35 per million British thermal units.

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 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.

Marathon Oil Corp.'s subsidiary will be the operator of the joint venture, but Lucas will still own and operate rights above the Eagle Ford, primarily the Austin Chalk formation.

Lucas Energy shares are up 14.2%, or $0.51, to $4.09.



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.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: LEI , MRO , UNG , USO

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