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Energy Sector Update for 03/19/2015: USO, UNG, GDP

Top Energy Stocks

XOM: -1.8%

CVX: -1.7%

COP: -1.4%

SLB: -1.3%

OXY: -3.0%

Energy shares were positioned to end the trading day lower on Thursday, as crude oil futures continued to slide.

Light, sweet crude oil for April delivery was down 0.9% at $43.78 per barrel. In other energy futures, heating oil was down 3.0% at $1.59 per gallon while natural gas was down 4.4% at $16.09 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 4.0% at $16.09. The United States Natural Gas ETF ( UNG ) was down 2.9% at $14.24.

In other energy news, Goodrich Petroleum ( GDP ), an oil and natural gas company completed its previously announced private offering.

In a Securities and Exchange Commission filing, GDP said it issued and sold to Franklin Advisers 100,000 units each consisting of $1,000 aggregate principal amount at maturity of the company's 8.00% Second Lien Senior Secured Notes due 2018 and one warrant to purchase 48.84 shares of its common stock par value $0.20 per share. Gross proceeds were $100 million.

Shares in the company were trading 6.8% lower at $3.03 shortly before main markets closed on Thursday. Over the past 52 weeks, the company has traded between $2.35 and $30.52.

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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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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