Markets

Energy Sector Update for 04/07/2015: LEI,MPET,GEL

Highs and Lows Stock Data

Top Energy Stocks

XOM +1.09%

CVX +1.96%

COP +0.92%

SLB +0.69%

OXY +0.58%

Energy stocks were finishing mostly higher today with the NYSE Energy Sector Index climbing over 0.9% and the S&P Energy Index rising around 0.5%. Crude oil for May delivery settled $1.84 higher at $53.98 per barrel while May natural gas futures added 3 cents to finish at at $2.68 per 1 million BTU.

In company news, Lucas Energy Inc. ( LEI ) gained after the oil and gas company said the the New York Stock Exchange has extended its deadline until August 28 to regain compliance with exchange rules requiring listed companies to maintain a minimum bid price above $1 a share.

The company said that based on information it provided to the NYSE, the exchange determined LEI has made a reasonable demonstration of its ability to regain compliance by the end of the revised period.

LEI shares were ahead over 21% at 23 cents apiece in late afternoon trade, just a penny under their session high. The stock has traded within a 52-week range of 6 cents to 82 cents a share, declining more than 75% over the past year prior to today's uptick.

In other sector news,

(+) MPET, Deems CO2-enhanced oil recovery pilot project at the Poplar Dome in the Charles formation a technical success. Also allows Utah CO2 LLC an extra two months to finalize a deal for the Farnham Dome CO2 reservoir.

(-) GEL, Prices public offering of 4.0 mln units at $44.42 each, a 5.4% discount to Monday's closing price for the stock.

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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