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Energy Sector Update for 04/11/2019: BKEP,TRCH,CPG,CPG.TO


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Top Energy Stocks

XOM +0.06%

CVX -0.15%

COP -1.34%

SLB -1.02%

OXY -0.22%

Energy stocks were lower, with the NYSE Energy Sector Index falling about 0.6% while shares of energy companies in the S&P 500 were down 0.3% as a group. West Texas Intermediate crude oil for May delivery was falling $1.07 to $63.54 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude June contract was declining $1.02 to $70.71 per barrel. May natural gas futures were 5 cents lower at $2.65 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was falling 1.5% while the United States Natural Gas fund was dropping 1.4%. The Philadelphia Oil Service Sector index also was down 0.8%.

Among energy stocks moving on news:

(+) Blueknight Energy Partners LP ( BKEP ) was nearly 3% higher Thursday after the pipeline company selected Andrew Woodward to be its new chief financial officer, starting on April 29. Woodward previously was the vice president for finance at pipeline operator Andeavor Logistics ( ANDX ) and earlier was a vice president in the energy group at RBC Capital Markets.

In other sector news:

(+) Torchlight Energy Resources ( TRCH ) jumped almost 12% on Thursay after the exploration and production company received the final petrophysical report for its Orogrande Basin project, with a best-case scenario indicating the Texas oilfield likely holds between 2.321 million to 4.975 million barrels of oil equivalent. The report also found up to 10 potential hydrocarbon pay zones at varying depths.

(+) Crescent Point Energy ( CPG ) was up fractionally on Thursday. The Canadian oil and natural gas producer said James Craddock and Jennifer Koury will stand for election to the company's board of directors, replacing Peter Bannister and Gerald Romanzin, who previously announced their plans to retire from the Crescent Point board.

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: BKEP , ANDX , TRCH , CPG




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