Energy
XOM

Energy Sector Update for 09/26/2019: XOM,EQNR,SAEX,NGL,BE

Top Energy Stocks

XOM -0.20%

CVX -2.36%

COP -2.75%

SLB -1.66%

OXY -0.09%

Energy stocks were ending mostly lower this afternoon, with the NYSE Energy Sector Index falling over 0.4% while shares of energy companies in the S&P 500 were down more than 1.0% as a group. West Texas Intermediate crude oil for November delivery settled 8 cents lower at $56.41 per barrel while the Brent crude November contract climbed 29 cents to $62.68 per barrel. October natural gas futures fell 7 cents to $2.43 per 1 million BTU.

Among energy stocks moving on news:

(-) ExxonMobil (XOM) was narrowly lower in Thursday trading after the energy major earlier announced the sale of non-operated upstream assets in Norway to Var Energi AS for $4.5 billion. The upcoming transaction includes more than 20 producing fields mostly operated by Norwegian oil giant Equinor (EQNR) and is expected to close before the end of the year.

In other sector news:

(+) SAExploration (SAEX) raced nearly 20% higher after the oilfield services company Thursday said it was hired for a new, $28 million shallow-water data-acquisition project in the Asia-Pacific region from an unnamed national oil company. The project is expected to last about 55 days and should be largely completed during the final three months of 2019.

(+) Bloom Energy (BE) was more than 1% higher in afternoon trade after late Wednesday announcing a collaboration with Samsung Heavy Industries to design and build Aframax-grade crude oil tanker ships powered by Bloom Energy's solid oxide fuel cell technology.

(-) NGL Energy Partners (NGL) fell over 2% after the shipping and logistics company announced its purchase of the equity interests of water pipeline builder Hillstone Environmental Partners from Golden Gate Capital for around $600 million. NGL Energy is expecting the deal will add to its FY21 per-share distributable cash flow, its first full year of ownership.

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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XOM EQNR SAEX NGL BE

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