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Energy Sector Update for 09/28/2015: SN,SPP,SYMX,ETE,WMB,ETC

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Top Energy Stocks

XOM -0.39%

CVX -1.58%

COP -1.74%

SLB -3.95%

OXY -2.51%

Energy stocks recently were testing new session lows on Monday, with the NYSE Energy Sector Index sinking over 2.8% while shares of energy companies in the S&P 500 were down more than 3.1% as a group. Crude oil for November delivery was $1.00 at $44.64 per barrel while November natural gas futures were 6 cents higher at $2.69 per 1 million BTU.

In company news, Sanchez Energy ( SN ) rose Monday after the oil and natural gas producer said it sold a portion of its pipeline and gathering assets in the Eagle Ford Shale formation in western Texas to Sanchez Production Partners LP ( SPP ) for about $345 million in cash, subjects to closing adjustments.

Following the sale, Sanchez Energy estimated its pro forma liquidity will rise to around $918 million, including existing cash on hand and the $300 million still undrawn from its revolving credit facility.

SN shares were up nearly 6% today at $5.64 apiece, easing from an earlier run to $5.76 a share.

SPP shares also were higher Monday, racing to an 88.9% advance at $8.84 each, earlier climbing as high as $10.01 a share.

In other sector news,

(+) SYMX, (+2.9%) Extends 20-million-yuan working capital loan for its Zao Zhuang New Gas Company joint venture in China's Zao Zhuang City by another 11 months to August 22, 2016.

(-) ETE, (-10.9%) Agrees to $37.7 bln acquisition of Williams Cos. ( WMB ), paying $43.50 for each Williams share either in cash or Energy Transfer Corp (ETC) shares.

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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