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Sector Update: Energy Shares Lower in Pre-Market Trade, Crude Falls Toward $89 Per Barrel
By: MT Newswires
Top Energy Stocks
Energy shares are generally lower in pre-market, while crude oil futures are also lower after data out of China showed slower than expected economic growth.
Light, sweet crude oil for May delivery is trading down $1.84 at $89.45 a barrel. In other energy futures, heating oil is down $0.02 at $2.86 a gallon while natural gas is up $0.02 at $4.24 per million British thermal units.
In other energy news, Rosetta Resource ( ROSE ) announced an intended offering of $700 million senior notes, which the company says will help fund an acquisition of oil and natural gas assets in the Permian Basin from Comstock Resources. The company today updated guidance to reflect that acquisition.
Rosetta Resource's 2013 capital guidance range will be revised upward from $640--$700 million to $840--$900 million. ROSE closed at $47.93 Friday, trading in a 52-week range of $32.37 to $54.61.