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Sector Update: Energy

Energy shares traded fairly flat in pre-market Tuesday as crude oil futures were higher.

Light, sweet crude oil for June delivery was up 0.77% at $101.36 per barrel. In other energy futures, heating oil was up 0.55% at $2.93 per gallon while natural gas was up 0.45% at $4.45 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was flat at $36.59. The United States Natural Gas ETF ( UNG ) was up 0.49% at $24.63.

In other energy news, Rice Energy Inc. ( RICE ), an independent oil and gas company said Q1 production and earnings rose.

Net income was $129.4 million, or $1.03 a share, compared with a loss of $6.77 million, or $0.05 a year ago. Adjusted earnings for the quarter were $0.99 per share.

Q1 2014 net production rose 135% to 209 MMcf/d.

Total revenue was $90.4 million compared with $13.2 million.

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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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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