The S&P Energy Sector -0.1% is trading just below the unchanged broader market July crude oil is +0.4% at $91.02/barrel, June natural gas is -2.6% at $2.58/MMBtu, July RBOB is +0.2% at $2.83/gallon, and July heating oil is +0.4% at $2.84/gallon. Trading higher following earnings/guidance: FRO (+11.0%); Trading lower following earnings/guidance: TNP (-0.5%).
Sector News: GRH (+4.2%) GreenHunter Energy expanded equipment fleet in Appalachian region, CHK (+1.8%) Chesapeake Energy: CNBC's Kate Kelly reported that BlackRock (BLK) has increased its stake in CHK from 1 mln to 4-5 mln shares, WTI (+1.3%) W&T Offshore CEO disclosed buying 50K shares at $15.60 on 5/22, worth $780K, SGY (+1.0%) Stone Energy announced the appointment of David Welch as Chairman of the Board, BAS (+1.0%) Basic Energy Services announced it reauthorized a share repurchase program of up to ~$35.2 mln of its common shares, PACD (+0.8%) Pacific Drilling announced extension of initial term for the Pacific Scirocco to two years, CVI (+0.5%) CVR Energy: Dir/10% owner Carl Icahn bought 653,000 shares at 26.64-29.30 worth ~$19.0 mln, GGR (-5.0%) Geoglobal Resources filed for 9.6 mln share common stock offering by selling security holders. Broker Calls: CLR (+1.9%) Continental Resources initiated with a Outperform at Barrington Research; tgt $103, GPOR (+1.2%) Gulfport Energy upgraded at RBC Capital, COG (-2.3%) Cabot Oil & Gas downgraded at Tudor Pickering, GLNG (-0.9%) Golar LNG initiated with Overweight and $42 tgt at Evercore Partners.






