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Energy Sector Update for 03/18/2019: AMID, PDS, XOM, PSX, CVX, COP, SLB, OXY


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Top Energy Stocks:

XOM: +0.14%

CVX: -0.05%

COP: Flat

SLB: Flat

OXY: +0.37%

Pre-market Monday saw flat to higher top energy stocks. West Texas Intermediate crude oil for April delivery was up $0.15 to $58.67 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude May contract gained $0.26 to $67.42 per barrel and April natural gas futures were 2 cents higher at $2.81 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was up 0.41%%, while the United States Natural Gas fund was 0.65% higher.

Early movers include:

(+) American Midstream Partners ( AMID ), which was advancing by almost 30% after unveiling a definitive agreement and plan of merger with an affiliate of ArcLight Energy Partners Fund, allowing the latter to buy all outstanding American Midstream common units that are not already owned by ArcLight affiliates for $5.25 apiece in cash.

(-) Precision Drilling ( PDS ) was down more than 2% after announcing deals to sell its remaining five drill rigs in Mexico and water treatment business, branded Terra Water Systems, as the company continues to assess divestment opportunities for its non-core assets.

In other sector news:

(=) Exxon Mobil's ( XOM ) refinery near Houston, Texas suffered a fire late Friday after a blaze shut down a crude unit operated by Phillips 66 ( PSX ) in Carson, Calif., according to media reports. Both companies were unchanged after the news.

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) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.





This article appears in: Investing , Energy
Referenced Symbols: AMID , PDS , XOM , PSX , CVX




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