Top Energy Stocks
Energy stocks were edging higher Friday, with the NYSE Energy Sector Index rising almost 0.2% while shares of energy companies in the S&P 500 were up slightly more than 0.1% as a group. Crude oil for August delivery was up 55 cents at $45.48 per barrel while August natural gas futures were 6 cents lower at $2.98 per 1 million BTU.
In company news, Carrizo Oil & Gas ( CRZO ) rose on Friday, climbing nearly 7% and topping out at $17.54 a share after the exploration and production company last night priced a $250 million public offering of 8.25% senior notes due 2025.
The company expects to use net proceeds for potential acquisitions, repaying outstanding debt and for general corporate purposes. The transaction is slated to close July 14.
In other sector news,
(+) NXE, (+8.4%) Receives $110 mln second financing package for its SW2 properties from CEF Holdings, consisting of nearly 24.2 mln shares priced at $2.07 apiece and $60 mln in unsecured convertible debentures.
(-) STO, (-0.9%) Gassnova awards the Norwegian state-owned energy major with a contract to evaluate CO2 storage on the Norwegian continental shelf captured from three onshore industrial facilities.
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