Referenced Stocks

Market Chatter: Total Halting U.S. Dry Shale Gas Investment; Shares Up 1%

By Midnight Trader,  January 10, 2013, 11:18:05 AM EDT

Total ( TOT ) will halt making new investment in dry shale gas in the United States while gas prices remain low, chief executive Christophe de Margerie has said, according to a report in upstreamonline, citing Le Monde.

According to the report, the French oil major has joint ventures with Chesapeake Energy ( CHK ) in the Utica shale area of eastern Ohio and the Barnett gas shale area in Texas. Total shelled out $2.25 billion for a 25% slice of Chesapeake Energy's Barnett Shale assets in January 2010.

TOT shares are up 1.2% at $52.19.

CHK shares are down 3.5% at $16.49.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: CHK, TOT



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