Sector Update: Energy Shares Slide in Pre-Market Trading
MIDNIGHT TRADER 7:53 AM ET 11/28/14
Symbol Last Price Change USO 27.9 0 (0%) PBA 37.5 0 (0%) NGL 36.18 0 (0%) QUOTES AS OF 04:00:00 PM ET 11/26/2014
07:53 AM EST, 11/28/2014 (MT Newswires) -- Top Energy Stocks
XOM: -4.2%
CVX: -4.1%
COP: -4.7%
SLB: -4.6%
OXY: -4.3%
Energy shares were lower in pre-market trading Friday as crude-oil futures slid.
Light, sweet crude oil for January 2015 delivery was down 6.1% at $69.18 per barrel recently. In other energy futures, heating oil was down 4.0% at $2.24 per gallon while natural gas was down 3% at $4.23 per million British thermal units.
In energy ETFs, the United States Oil Fund(USO) was down 6.2% at $26.18. The United States Natural Gas ETF (UNG) was down 2.% at $21.66.
In other energy news, Pembina Pipeline(PBA) , an energy industry transportation and midstream service provider, has announced plans to construct a new facility and expand its gas processing capacity at its Musreau site in Alberta by 100 million cubic feet per day. The project has an estimated cost of $105 million. Shares were unchanged during Friday's pre-market trading session at $37.50. Over the past 52 weeks, the stock has traded between $30.45 and $48.89.
NGL Energy Partners (NGL) said it agreed to buy out the remaining 50% interest it doesn't already own in the Grand Mesa Pipeline from Rimrock Midstream. NGL said the purchase strengthens its diversified midstream business and will add "significant" fee-based revenue backed by long-term contracts. It gave no financial details of the acquisition. Shares were unchanged during Friday's pre-market trading session at $36.18. Over the past 52 weeks, the stock has traded between $28.73 and $46.25.
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