Sector Update: Energy
Energy shares traded generally flat in pre-market trade Monday as crude oil futures were higher.
Light, sweet crude oil for July delivery was up 0.12% at $102.83 per barrel. In other energy futures, heating oil was up 0.10% at $2.89 per gallon while natural gas was up 1.17% at $4.60 per million British thermal units.
In other energy news, oil drilling contractor Seadrill ( SDRL ) edged higher in recent pre-market trading on Monday after receiving a contract from Total Upstream Nigeria for employment of the newbuild ultra-deepwater drillship West Jupiter, in support of the EGINA ultra-deep offshore project in Nigeria.
The 5-year contract has a total revenue potential of approximately US$1.1 billion inclusive of mobilization.
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