Sector Update: Energy Shares Higher; Crude Gains 1% To Finish Atop $97 a Barrel


NYMEX Benchmark Crude August: (+1.6%) to $97.24

Top Energy Stocks

XOM: +0.5%

CVX: +1.1%

COP: +0.9%

SLB: +2.0%

OXY: +1.4%

Energy shares are higher to end the week as crude oil futures made gains topping 1% to finish above $97 a barrel.

Light, sweet crude oil for August delivery finished up 1.6% to $97.24 a barrel. In other energy futures, heating oil was up 1.07% to $3.11 a gallon while natural gas was up 3.72% to $4.54 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 2.22% to $37.50. The United States Natural Gas ETF ( UNG ) is up 0.09% at $11.03.

In late-session energy news, US-traded shares of White Rock, British Columbia-based Realm Energy International ( RLMXF ) were tipping higher as Reuters reports it will explore and develop the Paris Basin in France with ConocoPhillips ( COP ).

Yesterday, ConocoPhilips' board approved a deal to divide the company's Refining & Marketing, and Exploration & Production businesses into separate publicly traded corporations.

The company is eyeing a tax-free spin off the refining and marketing business to ConocoPhillips shareholders.

Realm Energy shares are up 1.51%, or $0.02, to $1.08.

Meanwhile, Lucas Energy, Inc. ( LEI ) is up more than 6% to $2.88 today after the company announced that it had had gross production in May 2011 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.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: COP , LEI , RLMXF , UNG , USO

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