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Energy Sector Update for 10/02/2015: TAT,FXEN,PDCE

Top Energy Stocks

XOM +2.25%

CVX +3.84%

COP +5.98%

SLB +3.94%

OXY +4.17%

Energy stocks were stretching out their earlier gains, with the NYSE Energy Sector Index rising almost 4.0% while shares of energy companies in the S&P 500 were ahead about 3.9% as a group.

In company news, TransAtlantic Petroleum ( TAT ) was higher in late Friday trading after the oil and gas producer reported a 3% year over year production increase during the three months ended Sept. 30, reaching 5,340 barrels of oil equivalent per day.

The gain was supported by TransAtlantic drilling and beginning completion operations for its 100% owned Bahar-9 well as well as a 50% owned exploratory well about two miles south in the Goksu field. The company said it expects all of its drilled wells to be completed before the end of the year.

TAT shares were up almost 4% at $2.62 apiece, or just 3 cents under its session high of $2.65 a share.

In other sector news,

(+) FXEN, Completes drilling, coring, logging and testing of its new Miloslaw-4k well, which flowed natural gas at 4/32 million cubic feet per day with no observable water.

(-) PDCE, Extends the maturity of its revolving credit facility by another two years to May 2020, with the borrowing base reaffirmed at $700 mln.

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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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