Southwestern Energy Co. is moving beyond the Appalachian Basin to expand its natural gas opportunities with a $2.7 billion takeover of Haynesville Shale
Southwestern Energy Co. is moving beyond the Appalachian Basin to expand its natural gas opportunities with a $2.7 billion takeover of Haynesville Shale
Old warhorse beats Tesla and meme stocks on Wall Street
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Last Updated: May 16, 2021, 06:12 PM IST
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Synopsis
The cyberattack on Colonial Pipeline Co.’s fuel distribution line along the U.S. Eastern Seaboard didn’t do much damage to refining stocks, as a prolonged shutdown was avoided.
Reuters
Oil & gas shares are up 40% this year compared with a 11% gain in the broad equities benchmark.
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By Michael Bellusci
It’s going to take more than a pesky pipeline shutdown to knock energy stocks off their pedestal as this year’s best performing group in the S&P 500. Indeed, while the market focuses on popular meme stocks, alternative energy plays, tech and Tesla, the best place to make money in 2021 has been that old warhorse, the crude patch.
(Bloomberg) It’s going to take more than a pesky pipeline shutdown to knock energy stocks off their pedestal as this year’s best performing group in the S&P…