9-4-13 12:22 PM EDT | Email Article

By Claudia Assis, MarketWatch


SAN FRANCISCO (MarketWatch) -- Energy stocks rose on Wednesday, tracking the broader equity market and notching a second day of gains.


ConocoPhillips (COP) was among the top gainers of the day, with shares up 1.8%. The company said late Tuesday that an arbitration tribunal had sided with it in a dispute with Venezuela.


The World Bank's International Center for Settlement of Investment ruled Venezuela's seizure of oil projects in the country in 2007 was unlawful.


ConocoPhillips helped develop the Petrozuata and Hamaca projects in the Orinoco heavy-crude belt, and the offshore Corocoro project in Venezuela with "substantial long-term investments," the company said.


Hugo Ch��vez, then Venezuela's president, forced multinational oil producers to form joint ventures as minority partners. ConocoPhillips wrote off about $4.5 billion in 2007 related to the case, analysts at Simmons & Co. said.


The arbitration will continue to determine how much is owed to ConocoPhillips. Analysts warned the process is lengthy and enforcement and collection could be an issue.


Shares of Exxon Mobil Corp. (XOM) rose 0.9%, while Chevron Corp. (CVX) shares advanced 0.5%.


Top decliners on Wednesday included Kinder Morgan, Inc. (KMI), with shares off 4.3%.


The SPDR Energy Select Sector (XLE), an exchange-traded fund focusing on energy names, rose 0.7%.


A study by consultant IHS said the effects of the U.S. energy boom will trickle down to family incomes, boost trade and contribute to increased U.S. competitiveness.


The "revolution" in unconventional oil and gas exploration will also support nearly 3.9 million jobs by 2025, IHS said. Unconventional oil and gas includes production from oil sands, shale formations and deep water.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com


Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

09-04-13 1222ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
Add a Comment

News   More...

Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar

Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - - Energy stocks extend gains to second day
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: Energy stocks end lower, hit by Fed taper talk  |  Next: Energy stocks fall as government shutdown nears