By Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) ? Energy stocks rose on a triple-digit advance from the Dow Jones Industrial Average and higher natural gas prices on Wednesday, with Anadarko Petroleum and Nabors Industries among the gainers.
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Exxon Mobil Corp. /quotes/zigman/203975/quotes/nls/xom XOM +0.56% advanced 0.6% and Chevron Corp. /quotes/zigman/289939/quotes/nls/cvx CVX +0.42% moved up by about 0.4%.
The companies are components of the Dow Jones Industrial Average /quotes/zigman/627449 DJIA +0.81% , which rose 103 points by the closing bell.
The Energy Select Sector SPDR Fund /quotes/zigman/246199/quotes/nls/xle XLE +0.87% , which tracks energy stocks contained in the S&P 500 Index /quotes/zigman/3870025 SPX +0.67% , rose 0.9%.
Among them, Nabors Industries /quotes/zigman/306432/quotes/nls/nbr NBR +2.70% rose 2.7% and oil well services firm Helmerich & Payne /quotes/zigman/229188/quotes/nls/hp HP +2.81% moved up by 2.8%.
EOG Resources /quotes/zigman/248503/quotes/nls/eog EOG +1.53% rose 1.5% and Ultra Petroleum /quotes/zigman/132904/quotes/nls/upl UPL +1.79% ?moved up by 1.8%.
Natural gas producers tapped into a 4% increase in natural gas futures to $2.90 per million British thermal units.
MDA EarthSat forecast more intense heat in the Midwest and East in the next week to week and a half. The hot weather is expected to increase demand for electricity, used to power air-cooling equipment, produced from natural gas-powered generators.
In major benchmarks in the energy sector, the NYSE Arca Oil Index /quotes/zigman/6015539 XX:XOI +0.71% rose 0.7%, the NYSE Arca Natural Gas Index /quotes/zigman/6015474 XX:XNG +0.63% advanced 0.6% and the Philadelphia Oil Service Index /quotes/zigman/1470028 OSX +1.35% moved up by 1.4%.
Among stocks in the spotlight, Anadarko Petroleum Corp. /quotes/zigman/217978/quotes/nls/apc APC +1.13% rose 1.1% after the Houston-based oil and natural gas producer announced a fresh discovery off the coast of the African nation of Ghana in the Atlantic Ocean. The Wawa-1 exploration well hit 43 net feet of oil and 65 feet of gas-condensate, the company said.
Bloomberg News reported Royal Dutch Shell /quotes/zigman/379078/quotes/nls/rds.a RDS.A +0.40% is in talks to buy Anadarko?s natural gas assets off the coast of Mozambique. Anadarko?s 36.5% stake in the Rovuma-1 offshore gas field could fetch $8 billion, said the Bloomberg report, which cited unnamed sources.
Shell bowed out of bidding for Cove Energy /quotes/zigman/342915 UK:COV 0.00% , which owns a stake in the same field, after a $1.9 billion offer from Thailand-based oil firm PTT Exploration & Production TH:PTTEP -2.92% .
/quotes/zigman/203975/quotes/nls/xom
US : U.S.: NYSE
Volume: 14.20M
July 18, 2012 4:00p
Market Cap$400.89 billion
/quotes/zigman/289939/quotes/nls/cvx US : U.S.: NYSE
Volume: 5.52M
July 18, 2012 4:00p
Market Cap$211.92 billion
/quotes/zigman/627449 US : DJ-Index
Volume: 130.07M
July 18, 2012 4:30p
/quotes/zigman/246199/quotes/nls/xle US : U.S.: NYSE Arca
Volume: 15.52M
July 18, 2012 4:00p
/quotes/zigman/3870025 US : S&P Base CME
Volume: 573.27M
July 18, 2012 4:35p
/quotes/zigman/306432/quotes/nls/nbr US : U.S.: NYSE
Volume: 10.33M
July 18, 2012 4:01p
Rev. per Employee$251,898
/quotes/zigman/229188/quotes/nls/hp US : U.S.: NYSE
Volume: 2.14M
July 18, 2012 4:01p
Rev. per Employee$326,389
/quotes/zigman/248503/quotes/nls/eog US : U.S.: NYSE
Volume: 2.56M
July 18, 2012 4:01p
/quotes/zigman/132904/quotes/nls/upl US : U.S.: NYSE
Volume: 3.23M
July 18, 2012 4:02p
/quotes/zigman/6015539 XX : NYSE Glb Ind
Volume: 0.00
July 18, 2012 8:00p
/quotes/zigman/6015474 XX : NYSE Glb Ind
Volume: 0.00
July 18, 2012 8:00p
/quotes/zigman/1470028 US : PHLX Ind Cur
Volume: 0.00
July 18, 2012 5:22p
/quotes/zigman/217978/quotes/nls/apc US : U.S.: NYSE
Volume: 6.89M
July 18, 2012 4:00p
/quotes/zigman/379078/quotes/nls/rds.a US : U.S.: NYSE
Volume: 1.26M
July 18, 2012 4:07p
Market Cap$221.37 billion
/quotes/zigman/342915 UK : U.K.: London
Volume: 31.85M
July 18, 2012 4:35p
TH : Thailand: Bangkok
Volume: 7.12M
July 18, 2012 12:00a
Market Cap?567.72 billion
Steve Gelsi is a reporter for MarketWatch in New York.
Source: http://feeds.marketwatch.com/~r/marketwatch/financial/~3/zoAD-WQ9vSo/story.asp
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