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Energy Sector Update for 01/10/2019: RDC,COP,SEMG,KKR,LLEX


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Top Energy Stocks

XOM -1.15%

CVX -0.41%

COP +0.56%

SLB +0.78%

OXY -0.29%

Energy stocks were narrowly lower, with the NYSE Energy Sector Index falling 0.4%, while shares of energy companies in the S&P 500 were down about 0.5% as a group. West Texas Intermediate crude oil for February delivery was slipping 9 cents to $52.27 per barrel at the New York Mercantile Exchange, while the global benchmark Brent crude March contract was declining 7 cents to $61.37 per barrel. February natural gas futures were 3 cents higher at $3.01 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was falling almost 0.2%, while the United States Natural Gas fund was slipping 0.1%. The Philadelphia Oil Service Sector index was up 0.1% this afternoon.

Among energy stocks moving on news:

(+) Rowan Companies ( RDC ) was slightly higher Thursday, reversing a 3.5% decline earlier in the session. The contract driller said its Rowan Norway jack-up rig has been hired by ConocoPhillips ( COP ) for a project in Norway expected to run about seven months beginning in Q2.

In other sector news:

(+) Lilis Energy ( LLEX ) was up 6% on Thursday, overcoming an early decline, after the oil and natural gas producer operating in the Permian basin and southeastern New Mexico said it met its 2018 year-end production target of 8,000 net barrels of oil equivalent per day.

(+) Semgroup ( SEMG ) was nearly 2% higher in afternoon trading after the energy logistics and storage company Wednesday announced a joint venture with KKR & Co ( KKR ) to create a Canadian midstream infrastructure platform, SemCAMS Midstream, which has signed a definitive agreement to acquire Meritage Midstream and its midstream infrastructure assets for about $449 million.

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

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This article appears in: Investing , Energy
Referenced Symbols: RDC , COP , LLEX , SEMG , KKR



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