Wednesday, May 11, 2011

Vaalco Energy (EGY) Trades Up as Oil, Gas Rise

Crude oil, natural gas and gasoline prices jumped Tuesday, pushing up the share price of Vaalco Energy (NYSE:EGY).

Benchmark crude for May delivery rose $1.33 to settle at $103.88 a barrel on the New York Mercantile Exchange.

Heating oil jumped 3.94 cents to settle at $3.0012 a gallon. Gasoline futures climbed 10.13 cents to settle at $3.3797 a gallon, while natural gas for June delivery increased 8.7 cents to settle at $4.303 per 1,000 cubic feet.

VAALCO Energy, Inc. participates in the acquisition, exploration, development, and production of crude oil and natural gas.

Vaalco Energy (EGY) closed at $7.00, gaining $0.20, or 2.94 percent.

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