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Energy Sector Update for 12/16/2016: PBR,GLF,GPOR


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XOM +0.17%

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OXY +2.67%

Energy stocks were ending mostly higher today, with the NYSE Energy Sector Index rising about 0.5% while shares of energy companies in the S&P 500 also were up 0.5% as a group. Crude oil for January delivery settled $1.00 higher at $51.90 per barrel while January natural gas futures fell 2 cents to finish at $3.41 per 1 million BTU.

In company news, American depository shares of Petrobras Brasileiro ( PBR ) declined slightly after the Brazilian energy major better known as Petrobras today said it has executed a $5 billion, 10-year facility agreement with the China Development Bank.

Together with two other prior agreements, yesterday's deal creates a preferred supply pact providing 100 thousand barrels of oil per day over the next 10 years.

PBR ADS were down about 0.6% at $10.20 apiece, staying within 4 cents of their session low.

In other sector news,

(+) GLF, Raises bondholder compensation in a $300 mln tender offer for its 6.375% senior notes due 2022 by another $40 to $520 for each $1,000 in face value of the notes. Also extends expiration date by eight days until Dec. 29.

(-) GPOR, Prices $600 mln offering of 6.375% senior notes due 2025 at par. Net proceeds, together with proceeds from $623.5 mln equity offering of 29 mln shares also pricing last night, will fund cash portion of $1.85 bln deal for 46,400 acres in the south central Oklahoma oil province from Quantum Energy Partners.

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: PBR , GLF , GPOR


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