NYMEX Benchmark Crude April: +$3.53 (+1%) to $105.44
Top Energy Stocks
Energy shares are down in late trading as crude oil futures finish above $105 a barrel in yet another strong gain for the commodity.
Light, sweet crude oil for April delivery finished up $3.53, or 1%, to $105.44 a barrel. In other energy futures, heating oil was down 0.46% to $3.07 a gallon while natural gas was up 2.73% to $3.91 per million British thermal units.
In late-session energy news, El Paso Pipeline Partners ( EPB ) is down after it said it will pay $587 million to El Paso ( EP ) to increase it stake in Southern Natural Gas Co. by 22%. EPB will own an 82% stake in Southern Natural Gas after the deal closes.
EPB will increase its quarterly dividend by 5% to $0.46 per unit beginning in Q2. EP owns a 49% limited partner interest and 2% general partner interest in the EPB.
El Paso Pipeline shares are down 3.71% to $36.34.
Meanwhile, James River Coal ( JRCC ) is sharply higher after it reported this morning that Q4 EPS of $0.93, up from a year ago loss of $0.12 per share.
Separately, the company said it signed a definitive agreement to purchase International Resource Partners LP (IRP) and Logan & Kanawha Coal Company, LLC (L&K) and their affiliated companies for $475 million in an all-cash transaction.
James River shares are up 12.1%, or $2.45, to $22.74.
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