Energy stocks were higher across the board Wednesday, following the broader equity market’s gain.
Chevron (CVX) helped to boost oil majors as the company reaffirmedits full year guidance after hours Tuesday, and also said it expected first quarter profits to grow from the end of 2011.
ExxonMobil (XOM) was also moving up 0.7% after it agreed to a $590 million deal to purchase 58,400 net acres of leases in Oklahoma’s Texoma Woodford play from Chesapeake (CHK): The nation’s second largest natural gas producer made $2.6 billion in divestitures this week as it struggles to deal with low gas prices.
Elsewhere, Alpha Natural Resources (ANR) was gaining 4.4% after it namedPaul Vining as president, taking the place of 31-year company veteran Kurt Kost, who is retiring. Vining will remain chief commercial officer as well.
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