Markets

Energy Sector Update for 01/21/2016: PDCE,NRP,SAEX

Top Energy Stocks

XOM +2.25%

CVX +3.33%

COP +7.08%

SLB +3.55%

OXY +2.05%

Energy stocks were mostly higher, with the NYSE Energy Sector Index rising 3.5% while shares of energy companies in the S&P 500 were up 3.4% as a group. Crude oil for March delivery was up $1.17 at $28.35 per barrel while February natural gas futures were little changed at $2.12 per 1 million BTU.

In company news, PDC Energy ( PDCE ) rose Thursday after the oil and natural gas producer reported a 65% increase in 2015 production compared with the prior-year level, producing 15.4 million barrels of oil equivalent last year.

The company also finished the year with 272.8 million barrels of oil equivalent in proved reserves, an rise of around 9% over the end of 2014 and consisting of 60% liquid and 40% natural gas.

PDCE shares were up nearly 5% at $49.81 each, earlier reaching a session high of $50.28 a share.

In other sector news,

(+) NRP, (+23.1%) Declares $0.045 per unit dividend, unchanged from prior quarter and payable Feb. 12 to unitholders of record on Feb. 5. Citing "challenging" market conditions, warns 2016 will be a difficult year for its coal, oil and gas businesses.

(-) SAEX, (-4.9%) Announces five new project awards with a combined value of around $83 mln for onshore logistical support and seismic data acquisition services in North and South America.

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.


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

In This Story

PDCE

Other Topics

Commodities