Energy shares were mixed in Thursday’s pre-market trade, mostly recovering from Wednesday’s slump, when prices fell to their lowest level in more than two weeks after the U.S. government reported a greater-than-expected weekly decline in crude supplies.
Light, sweet crude oil for November delivery was up 0.1% at $50.02 per barrel. In other energy futures, heating oil was up 0.5% at $1.78 per gallon while natural gas was down 0.1% at $2.94 per 1 million British thermal units.
In energy ETFs, the United States Oil Fund (USO) was down 0.3% at $10.11 while the United States Natural Gas ETF (UNG) was flat at $6.39.
In energy stocks, Matador Resources Company (MTDR) was down 4.7% after the oil and gas company said it has priced an underwritten public offering of 8 million shares for total expected proceeds of approximately $210.8 million. Matador said proceeds will fund the purchase price for approximately 9,800 gross acres in the Delaware Basin and additional midstream initiatives in the region that are planned for Q1. Proceeds may also be used for general corporate purposes.
In other sector news,
(+) RIG (+0.1%) Prices $750 million offering of senior unsecured notes due January 2026.
Companies: Exxon Mobil Corporation
Price: 81.79 Price Change: Percent Change: +0.00