Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1.6% and the Energy Select Sector SPDR Fund (XLE) climbing 2.4%.

The Philadelphia Oil Service Sector index gained 4%, while the Dow Jones US Utilities index was down 0.3%.

Front-month West Texas Intermediate crude oil was rising 2% to $62.26 a barrel, and the global benchmark Brent crude contract was advancing 2% to $65.17 a barrel. Henry Hub natural gas futures fell 3.6% to $3.66 per 1 million BTU.

In corporate news, NRG Energy (NRG) shares jumped 24% after it reported higher Q1 adjusted earnings and revenue from a year earlier. The company also agreed to buy a portfolio of power assets from LS Power Equity Advisors in a cash-and-stock deal valued at about $12 billion.

Blackstone (BX) is in talks to buy TXNM Energy (TXNM), the owner of the largest utility in New Mexico, Bloomberg reported. TXNM shares added 0.5% and Blackstone jumped past 6%.

Pan American Silver (PAAS) agreed to acquire Canadian silver mining company MAG Silver (MAG) in a cash-and-stock deal worth roughly $2.1 billion. Pan American shares fell past 15% and MAG Silver climbed 6.3%.