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Sector Update: Energy Shares Flat as Crude Oil Inches Up Past $93 Per Barrel

By: MT Newswires
Posted: 12/2/2013 8:53:00 AM
Referenced Stocks: RRC;UNG;UPL;USO

Top Energy Stocks

XOM: +0.01%

CVX: +0.05%

COP: +1.46%

SLB: flat

OXY: flat

Energy shares are fairly flat in pre-market, while crude oil futures are down.

Light, sweet crude oil for January delivery is trading up 0.30% at $93.02 per barrel. In other energy futures, heating oil is flat at $3.03 a gallon while natural gas is down $0.02 at $3.94 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 0.06% at $33.44. The United States Natural Gas ETF ( UNG ) is up 0.31% at $19.21.

In other energy news, independent natural gas and oil company Range Resources Corp. ( RRC ) said Monday that its board of directors declared a quarterly cash dividend on its common stock.

The dividend of $0.04 per share, unchanged from the previous quarter's payout, is payable on December 31, 2013 to stockholders of record at the close of business on December 16, 2013.

And, independent oil and gas company Ultra Petroleum ( UPL ) said Monday that it will offer $400 million in aggregate principal amount of senior unsecured notes due 2018 in a private placement.

The company intends to use the net proceeds of this offering to fund a portion of the purchase price of its recently announced Uinta Basin acquisition.

Shares closed at $20.47 with a 52-week range of $15.26 - $24.19.