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Sector Update: Energy Stocks Still Mostly Higher; Royale Energy Complete New Natural Gas Well in California

Top Energy Stocks

XOM +0.18%

CVX +0.93%

COP +0.63%

SLB -1.12%

OXY +0.21%

Energy stocks were higher Monday with the NYSE Energy Sector Index rising about 0.3% while shares of energy companies in the S&P 500 were up slightly as a group. Crude oil for July delivery settled 3 cents higher at $106.88 per barrel while July natural gas fell 4 cents to $4.70 per 1 million BTU.

In company news, Royale Energy ( ROYL ) was narrowly lower in late Monday trade after the exploration and production company today said it has completed its new Wembley natural gas well in California's Sacramento valley.

The well tested at a stabilized rate of 600 million cubic feet per day, with ROYL also saying electric logs indicate positive potential in three nearby formations. A pipeline currently is being connected to the well.

ROYL shares were down 0.3% at $3.14 each this afternoon, giving back an earlier rise to $3.24 a share. The stock has a 52-week range of $2.42 to $4.12 a share, climbing just over 16% over the past year.

In other sector news,

(+) WMB, Offers $6 billion to buy Global Infrastructure Partners' 50% stake in Access Midstream Partners LP ( ACMP ), along with 55.1 million limited partner units, increasing its overall stake in the pipeline company to 50%.

(-) IO, Acquires full ownership of OceanGeo, buying the 30% stake in the ocean bottom seismic company it didn't already own. The company said it was awarded a substantial offshore survey in West Africa from an unidentified international oil firm.

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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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