Energy stocks rose Friday afternoon with the NYSE Energy Sector Index up 0.6% and the Energy Select Sector SPDR Fund (XLE) adding 0.7%.

The Philadelphia Oil Service Sector index gained 0.9%, and the Dow Jones US Utilities index eased 0.1%.

West Texas Intermediate crude oil rose 0.5% to $70.99 a barrel, while global benchmark Brent crude advanced 0.6% to $74.72 a barrel. Henry Hub natural gas futures fell 2.4% to $3.325 per 1 million BTU.

In corporate news, Chevron (CVX) is expediting the expansion of the Tengiz oilfield in Kazakhstan, which started in January, Reuters reported. Chevron shares rose 1.2%.

Prairie Operating (PROP) agreed to acquire some assets from Bayswater Exploration and Production for $603 million in cash and stock. Prairie also launched a $200 million underwritten public offering of common stock. Prairie shares fell 23%.

Centrus Energy (LEU) shares jumped 33%, a day after the company posted Q4 adjusted earnings and revenue that topped expectations by analysts.