Markets

Sector Update: Energy

Energy shares are higher in pre-market trading as crude oil futures top $102 a barrel. Anadarko Petroleum ( APC ) announced it has signed a joint-venture agreement with a subsidiary of Korea National Oil Corporation (KNOC), whereby KNOC will earn approximately one-third of Anadarko's interest in the company's Maverick Basin assets, located in southwest Texas, for approximately $1.55 billion, effective Jan. 1, 2011. Meanwhile, Gulfport Energy ( GPOR ) says it commenced an underwritten public offering of 4 million shares, of which 2 million shares will be sold by GPOR and 2 million shares will be sold by one of its stockholders.

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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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