Top Energy Stocks
Energy stocks were little changed near the closing bell this
afternoon with the NYSE Energy Sector Index rising about 0.1% while
shares of energy companies in the S&P 500 were down 0.1% as a
group. Crude oil for September delivery was up 23 cents at $102.18
per barrel while August natural gas was down 12 cents to $3.83 per
1 million BTU.
In company news, FMC Tech (
) is slightly higher at $61.06 a share after announcing agreements
with Anadarko (
), BP (
), ConocoPhillips (
) and Shell (RDS.A) to develop the next generation of subsea
Under terms of the agreement, the companies will jointly work on
a new generation of standardized subsea production equipment and
systems designed to meet the challenges of producing oil and gas
from deepwater reservoirs with pressures of up to 20,000 psi and
temperatures of 350 F at the mudline.
In other sector news,
(+) FANG, Acquires additional acreage in the Midland Basin of
Texas for $538 mln, selling 5 mln shares and borrowing from its
revolving loan facility to fund the deal. Boosts daily production
guidance by 1,000 barrels to 17,000 to 19,000 barrels per day.
(-) HNR, Gabon government issues Declaration of Commerciality
for the Deussafu exploration block and also awards Exclusive
Exploitation Authorization to HNR for the Ruche, Tortue, Moubenga
and Walt Whitman offshore prospects.
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