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Energy Sector Update for 04/08/2016: APC,CNX,CNXC,URRE

Top Energy Stocks

XOM +0.85%

CVX +1.57%

COP +1.67%

SLB +2.62%

OXY +1.41%

Energy stocks remain sharply higher, with the NYSE Energy Sector Index climbing over 2.6% while shares of energy companies in the S&P 500 were up nearly 3.7% as a group. Crude oil for May delivery was up $2.47 at $39.73 per barrel while May natural gas futures were 2 cents lower at $2.00 per 1 million BTU.

In company news, Anadarko Petroleum Corp ( APC ) shares climbed Friday after the exploration and production company today launched a tender offer for up to $1.0 billion of its 6.375% senior notes due 2017.

The tender offer is slated to run through 11:59 p.m. on May 5, unless extended or terminated earlier by the company. The company also will pay an additional premium for notes tendered before 5 p.m. on April 21.

APC shares were up almost 5% at $47.83 a share, staying within relatively close range of their session high of $48.52 a share.

In other sector news,

(+) CNX, (+6.6%) Chief commercial officer James Grech retires and CNX Coal Resources ( CNXC ) selected to manage all human resources, land, marketing and external communications for the company's operations in Pennsylvania.

(-) URRE, (-5.1%) Completes $12.5 direct offering of 375,000 shares of its common stock at $2.17 apiece and 200,000 pre-funded common stock purchase warrants with a three-year term and priced $2.16 with Aspire Capital Fund LLC.

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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