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Sector Update: Energy Stocks Rise Pre-Bell Thursday

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Energy stocks were rising pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.6%.

The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 0.1% higher.

Front-month US West Texas Intermediate crude oil was 0.9% higher at $91.84 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.6% to $96.22 per barrel, and natural gas futures were up 1.3% at $2.99 per 1 million British Thermal Units.

Diversified Energy (DEC) has agreed to acquire Birch Permian and affiliates for a gross purchase price of about $1.8 billion, the company said. Diversified Energy shares were up more than 1% premarket.

GeoPark (GPRK) has made a strategic entry into Venezuela through the acquisition of the Bare Block, a large producing asset in the Orinoco heavy-oil belt, the company said. GeoPark stock was up more than 7% pre-bell.

Shell (SHEL) has completed its acquisition of ARC Resources after receiving all required shareholder, court and regulatory approvals, the company said. Shares of Shell were 0.1% lower premarket.

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