Energy stocks edged higher premarket Thursday with the Energy Select Sector SPDR Fund (XLE) recently up 0.5%.

The United States Oil Fund (USO) was up 0.7% and the United States Natural Gas Fund (UNG) was 1.9% lower.

Front-month US West Texas Intermediate crude oil was up 1% at $71.74 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.9% to $75.26 per barrel, and natural gas futures were 1.5% lower at $3.31 per 1 million British Thermal Units.

ConocoPhillips (COP) shares were down 0.8% after the company reported lower Q4 adjusted earnings and revenue.

Patterson-UTI Energy (PTEN) sharesCOP were over 1% lower after the company reported that it swung to a Q4 net loss as revenue declined during the period.

Ecopetrol (EC) shares were up more than 1% after the company said it has completed its acquisition of the remaining 45% of the CPO-09 Block from Repsol Colombia Oil & Gas for $452 million, making it the 100% owner of the central Colombian energy asset.