Energy Sector Update for 07/12/2019: EC, UPL, XOM, CVX, COP, SLB, OXY

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Top Energy Stocks:

XOM: -0.01%

CVX: +0.20%

COP: -0.02%

SLB: +0.10%

OXY: -+0.02%

Energy heavyweights were mixed pre-bell Friday. West Texas Intermediate crude oil for August delivery was up $0.11 at $60.31 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude September contract gained $0.38 to $66.90 per barrel and August natural gas futures were 5 cents higher at $2.46 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was down 0.48%, while the United States Natural Gas fund was 2.66% higher.

Early movers include:

(+) Ultra Petroleum ( UPL ), which was up 4% after terminating its offer to exchange outstanding 7.125% senior notes due 2025 of its Ultra Resources unit for new 9.00% cash or 2.50% payment-in-kind senior secured third lien notes due 2024 to be issued by the same unit.

In other sector news:

(=) Ecopetrol ( EC ) was flat after saying drilling at the Boranda-2 ST well located near Rionegro in northeastern Colombia found the presence of crude in the Eoceno basal sands.

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: EC , XOM , CVX , COP

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