Markets

Energy Sector Update for 12/27/2016: UUUU,BAS,PBR,GMLP

Top Energy Stocks

XOM +0.11%

CVX -0.08%

COP +0.63%

SLB -0.16%

OXY 0.00%

Energy stocks were slipping from their best levels in recent Tuesday trading, with the NYSE Energy Sector Index rising about 0.4% while shares of energy companies in the S&P 500 were up 0.2% as a group. Crude oil for February delivery was up 88 cents at $53.92 per barrel while February natural gas futures were 9 cents higher at $3.77 per 1 million BTU.

In company news, Energy Fuels Inc ( UUUU ) turned lower this afternoon, giving back earlier gains Tuesday that followed the uranium miner's late Friday saying it has filed an improved economic assessment for its wholly-owned Roca Honda project in northwestern New Mexico.

The new preliminary economic assessment largely reflects changes in the company's ownership position following its purchase of of 4,580 acres of adjacent properties in August 2015 along with the acquisition last May of the 40% ownership stake previously held by its former joint venture partner at Boca Honda, boosting its ownership stake to 100%.

The mineral resource estimate for the project is unchanged from the company's prior report in February, which found around 1.51 million tons of measured and indicated mineral resources with an average grade of 0.48% U3O8.

UUUU shares were down more than 2% at $1.63 apiece, topping out earlier at $1.75 a share.

In other sector news,

(+) HAL, (+0.2%) Files a notice with Russian regulators for the potential purchase of up to 100% of Novomet Oil Service Holding, an artificial lift company that has developed electric submersible pumps.

(-) GMLP, (-2.1%) Petrobras ( PBR ) issues notice for a June 2017 charter termination for the Golar Spirit floating storage and regasification unit and will pay a compensation fee equal to around 62% of projected EBITDA for the canceled 14-month period ending in August 2018.

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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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UUUU GMLP PBR BAS

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