Back to Main

Sector Update: Energy

By: MT Newswires
Posted: 4/9/2014 8:55:00 AM
Referenced Stocks: USO;UNG;ATHL

Energy shares were mixed in pre-market trade Wednesday as crude oil futures traded higher.

Light, sweet crude oil for May delivery was up 0.26% at $102.83 per barrel. In other energy futures, heating oil was up 0.34% at $2.94 per gallon while natural gas was up 0.51% at $4.56 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 0.41% at $37.05. The United States Natural Gas ETF ( UNG ) was up 0.67% at $25.43.

In other energy news, independent oil and liquid natural gas exploration and production company Athlon Energy ( ATHL ) said late Tuesday that it has entered into multiple definitive agreements with five unrelated third-party sellers to acquire certain producing properties and undeveloped acreage for an aggregate purchase price of $873 million in cash.

The properties are 100% operated and are concentrated primarily on the western side of the northern Midland Basin in Martin, Upton, Andrews, and Glasscock counties, near the company's existing operating areas.