Energy stocks gained Friday afternoon with the NYSE Energy Sector Index up 0.5% and the Energy Select Sector SPDR Fund (XLE) rising 0.9%.

The Philadelphia Oil Service Sector index climbed 2.3%, and the Dow Jones US Utilities index added 0.3%.

West Texas Intermediate crude oil fell 0.5% to $78.26 a barrel, and global benchmark Brent dropped 0.5% to $80.91 a barrel. Henry Hub natural gas futures slumped 6.8% to $3.97 per 1 million BTU.

In corporate news, Schlumberger's (SLB) Q4 results topped Wall Street estimates, driven by double-digit revenue growth in its digital and integration division and increased offshore activity in the US Gulf of Mexico. The shares jumped 7.9%.

Sasol (SSL) plans to revitalize its international chemical business, including its Lake Charles facility in Louisiana, as part of efforts to boost earnings and potentially set the stage for a future listing, Bloomberg reported, citing an interview with Chief Executive Officer Simon Baloyi. Sasol shares jumped 8.9%.

Vistra (VST) shares fell 1.3% after the company's battery storage plant in California caught fire Thursday.