Sector Update: Energy


Shutterstock photo

Energy stocks were mixed Monday afternoon with the NYSE Energy Sector Index falling about 0.8% while shares of energy companies in the S&P 500 were up 0.7% as a group. Crude oil for October delivery was down 30 cents at $93.25 per barrel while September natural gas was up $0.09 to $3.93 per 1 million BTU.

In company news, American depository shares of CNOOC Ltd. ( CEO ) were higher Monday after the Chinese energy major said it has begun production at its Wenchang 13-6 oilfield in the Pearl River Basin of the South China Sea.

The company's ADS recently were ahead about 1.4% at $197.54 each, earlier climbing to a session high of $197.84 per ADS. The stock has traded with a 52-week range of $147.24 to $211.49 a share, rising slightly more than 1% over the past 12 months.

The Wenchang 13-6 oilfield includes five wells producing around 1,300 barrels per day. CEO is sole owner and operator of the field, part of a broader production zone that includes a total of 12 producing wells and one wellhead platform.

In other sector news,

(+) TNP, (+0.6%) Begun at Outperform in new coverage at Wells Fargo.

(-) SPKE, (-0.8%) Wunderlich initiates coverage with a Buy rating.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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

This article appears in: Investing , Commodities

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by