Ahead Of The Bell: US Energy Shares Jump
NEW YORK (AP) ¿ Shares of U.S. Energy Corp. climbed in Tuesday premarket trading after the diversified natural resource company said a well in the Williston Basin in North Dakota began initial production.
Shares of the company rose 21 cents, or 4.2 percent, to $5.25 in trading before the opening bell.
U.S. Energy on Monday said the well, which is operated by Brigham Exploration Co., produced about 2,769 barrels of oil and 3.75 million cubic feet of natural gas per day, or 3,394 barrels of oil equivalent per day, during a 24 hour period.
U.S. Energy's has a 65 percent interest in the well. The company said oil sales from the well have begun, and natural gas sales will start when the gathering system is connected, which is estimated to take up to 120 days.Jefferies & Co. analyst Subash Chandra said the well achieved the highest flow rate in Brigham's Rough Rider region.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV