Energy shares are higher in pre-market, while crude oil futures
are up toward $110 per barrel.
Light, sweet crude oil for October delivery is up $0.66 per
share at $109.03 per barrel. In other energy futures, heating oil
is up $0.14 at $3.15 a gallon while natural gas is up $0.02 at
$3.59 per million British thermal units.
In energy ETFs, the United States Oil Fund (
) is flat at $38.69. The United States Natural Gas ETF (
) is up 0.27% at $18.83.
In other energy news, Layne Christensen (
), a water management, construction and drilling company, swung to
a loss of $1.17 per diluted share in fiscal Q2 from a profit on
that basis of $0.24 a year earlier. Revenues for Q2 declined to
$232 million from $288 million. LAYN is down 1% pre-market.
Analysts had expected an adjusted loss of $0.39 on revenue of
$261 million, according to Capital IQ. The shares are unchanged
pre-bell in a 52-week range of $17.42 - $25.11. 34.88 on Tuesday,
within a 52-week range of $19.47 - $35.85.
And, GasLog (
) has signed a memorandum of agreement to acquire the STX Frontier,
a 2010-built, 153,600 cubic meter LNG carrier from STX Pan Ocean
LNG PTE. Ltd., a Singapore based company. The acquisition cost of
the vessel is in the vicinity of U.S. $160 million.
The intention is that GasLog will take over the vessel from STX
Pan Ocean early in the fourth quarter of 2013 in Spain. GLOG is
flat at $13.99.
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