Top Energy Stocks
XOM -0.35%, from near year highs.
Energy stocks are broadly lower today with the NYSE Energy
Sector Index falling 1.1% and the S&P Energy Index sliding
about 0.7%. Crude oil for November delivery is down $2.04 at $89.33
a barrel. November natural gas is up 8 cents at $3.18 per 1 million
In company news, Chevron Corp (
) shares are down slightly in afternoon trade, sliding about 0.2%,
but still at the high end of its year range with the energy giant
receiving an award grant to participate in two deepwater blocks off
the coast of Sierra Leone.
The two blocks - SL-08A and SL-08B - were combined into a single
concession and are located more than 75 miles southwest of Sierra
Leone capital of Freetown. The blocks cover a combined 2,100 square
miles in water depths ranging from around 1,500 to 3,000
Under the award, CVX will be the operator with a 55% stake, with
Noble Energy (
) holding a 30% ownership interest and Odye Ltd. with a 15% stake.
NBL shares are a little lower, but above day lows.
In other sector news,
(-) RIG, (-1.1%) Upgrade to Neutral from Sell at Goldman
(-) CHK, (-1.2%) Downgrade to Hold from Buy at Stifel
(-) WMB, (-1.9%) Inks deal to extract, transport, fractionate
and market natural gas liquids and olefins recovered from upgrader
offgas for an unidentified producer in the Alberta oil sands.
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