Chesapeake (CHK) (XOM) (CVX) Climb on Oil Prices, Natural Gas Demand

A number of energy companies enjoyed moves into positive territory today, including Chesapeake Energy (CHK), Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), which were all up on stronger oil prices and a perceived increase in demand for natural gas as a streak of warmer weather approaches.

Shares of energy companies have been getting hit hard as of late, with 12 of the last 13 trading session has shares in the companies down.

The NYSE Arca Natural Gas Index, the NYSE Arca Oil Index, and the Philadelphia Oil Service Index were all trading positive in mid-day action.

Electrical utilities have been changing from coal use to cheaper natural gas, which has helped the beleaguered fuel source get some strength to it.

Oil prices rose to over $92 a barrel, jumping $.62 a barrel a little before noon.

BP (NYSE: BP), Nabors Industries (NYSE: NBR) and Valero Energy Corp. (NYSE: VLO) were all trading much stronger in response to positive signals.

Peabody Energy (BTU) Leases Over 400 Million Tons of Coal

The bid by Peabody Energy Corp. (NYSE: BTU) of $1.11 per mineable ton of sulfur coal was enough to land it control over 402 million tons of ultra low sulfur coal reserves located in Wyoming.

The leased tons are in Southern Powder River Basin in Wyoming, which is next to the North Antelope Rochelle Mine the coal giant operates.

Also close to the mine is the North Porcupine region which Peabody will bid upon in the second quarter. At this time the company 3.3 billion tons of coal reserves in the area.

With the Obama administration attack on the coal industry, it has put enormous pressure on coal companies, including Peabody, which closed Friday at $24.77, falling $1.19, or 4.77 percent. That's over a dollar below the 52-week low of $24.73.