Sector Update: Energy

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Energy issues are mostly lower pre-market as oil prices dip ahead of the release of the latest monthly U.S. jobs data. OMNI Energy Services ( OMNI ) will be sold to an affiliate of Wellspring Capital Management LLC for about $66.3 million. OMNI is valued at $2.75 a share, marking a nearly 30% premium over its closing price Thursday. ConocoPhillips ( COP ) reported a release of sulfur dioxide from its Wood River refinery in Illinois. The site produces 306,000 barrels a day and is jointly owned with Canada's Cenovus Energy ( CVE ). Brent crude is down 0.3% at $75.20 a barrel on NYMEX.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: COP , CVE , OMNI

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