Top Energy Stocks
Energy stocks are holding small gains, with the NYSE Energy
Sector Index climbing 0.2% while shares of energy companies in the
S&P 500 also are ahead 0.2% as a group. Crude oil for October
delivery is up $1.59 at $103.63 per barrel while November natural
gas is down 5 cents to $3.56 per 1 million BTU.
In company news, Williams Cos. Inc. (
) is down 0.2% at $36.65 a share, slipping slightly underwater
again following a brief move to positive ground after the natural
gas mid-stream company saysit will again partner with Boardwalk
Pipeline Partners (
). This time, the partnership is to build a liquefied petroleum gas
export terminal serving tanker ships on the Calcasieu River near
Lake Charles, La.
BWP shares also are narrowly lower, down 0.1% at $30.67 each, in
choppy trade carrying the stock in a tight range either side of its
The terminal is being designed to store around 900,000 barrels
of fully refrigerated propane and butane with a load-rate of 25,000
barrels per hour after becoming operational, expected by late
WMB and BWP already are working with a number of parties to
reserve off-take capacity at the terminal. The companies previously
signed joint-venture agreements to develop the proposed Bluegrass
pipeline connecting the Marcellus and Utica shale gas formations in
Ohio, West Virginia and Pennsylvania to Gulf coast refineries in
Louisiana and Texas.
The firms also are working on a fractionation plant near the
proposed LPG terminal to separate natural gas liquids arriving from
the Bluegrass pipeline.
In other sector news,
(+) PEIX, (+9.8%) Enters purchase agreement for 167 mln pounds
of surplus raw beet sugar to be blended with corn feedstock and
producing an additional 12 mln gallons of ethanol.
(-) TGP, (-3.9%) Announces plans to offer 3 million common
equity units representing ownership interests. The partnership
expects to use the net proceeds to partially fund the purchase of a
second liquified natural gas carrier.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.