Top Energy Stocks
Energy stocks were ending mostly higher today, with the NYSE Energy Sector Index rising about 0.5% while shares of energy companies in the S&P 500 also were up 0.5% as a group. Crude oil for January delivery settled $1.00 higher at $51.90 per barrel while January natural gas futures fell 2 cents to finish at $3.41 per 1 million BTU.
In company news, American depository shares of Petrobras Brasileiro ( PBR ) declined slightly after the Brazilian energy major better known as Petrobras today said it has executed a $5 billion, 10-year facility agreement with the China Development Bank.
Together with two other prior agreements, yesterday's deal creates a preferred supply pact providing 100 thousand barrels of oil per day over the next 10 years.
PBR ADS were down about 0.6% at $10.20 apiece, staying within 4 cents of their session low.
In other sector news,
(+) GLF, Raises bondholder compensation in a $300 mln tender offer for its 6.375% senior notes due 2022 by another $40 to $520 for each $1,000 in face value of the notes. Also extends expiration date by eight days until Dec. 29.
(-) GPOR, Prices $600 mln offering of 6.375% senior notes due 2025 at par. Net proceeds, together with proceeds from $623.5 mln equity offering of 29 mln shares also pricing last night, will fund cash portion of $1.85 bln deal for 46,400 acres in the south central Oklahoma oil province from Quantum Energy Partners.
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