The Philadelphia Oil-Service Sector index was sinking 0.8% and the Dow Jones US Utilities Index was slipping 0.6%.
West Texas Intermediate crude oil was rising $0.22 to $112.43 per barrel, while North Sea Brent crude was sliding $0.54 to $111.50 per barrel. Henry Hub natural gas futures were $0.29 lower at $8.02 per 1 million BTU.
In company news, Centennial Resource Development (CDEV) slumped 7.2% after BMO Capital trimmed its price target for the oil and natural gas producer by $1 to $8 a share and reiterated its market perform rating for the stock on Friday, one day after Centennial announced its $3.9 billion purchase of privately held Colgate Energy Partners.
NRG Energy (NRG) declined 2.2% after the electricity merchant Friday announced the sale of a 15-megawatt microgrid portfolio of commercial and industrial customers in New England and the PMJ Interconnection regional transmission organization to a subsidiary of privately held E2 Companies. Financial terms of the transaction were not disclosed.
MPLX (MPLX) climbed almost 1% after the energy infrastructure company and partner companies EnLink Midstream (ENLC), Devon Energy (DVN) and privately held WhiteWater overnight said they were moving forward with construction on the Matterhorn Express natural gas pipeline between the Permian Basin in western Texas and refineries near Houston after securing sufficient commitments from shippers. The new pipeline will carry up to 2.5 billion cubic feet of natural gas daily after beginning service in mid-2024, subject to regulatory and other approvals. Devon shares were 0.9% lower while Enlinc Midstream was falling 1.1% this afternoon.
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