Energy stocks are mostly lower, with the NYSE Energy Sector
Index sinking 0.4% while shares of energy companies in the S&P
500 are down about 0.5% as a group. Crude oil for November delivery
is down $1.05 at $103.70 per barrel while November natural gas is
down 5 cents to $3.72 per 1 million BTU.
In company news, Marlin Midstream Partners (
) is down 2.2% at $17.95 a share, earlier sliding to a new 52-week
low of $17.61 after the pipeline company said it expanded its board
of directors to now encompass an independent majority, effective
The board also said its quarterly distributions to shareholders
will begin following Q3, which will represent the first partial
quarter of distributable cash flow subsequent to FISH's July 31
initial public offering.
Based on the company's partnership agreement providing for a
minimum quarterly distribution of $0.35 per unit for each whole
quarter, the prorated Q3 distribution will be around $0.23 per unit
with a record date about five weeks after the end of the
In other sector news,
(-) OII, (-1.8%) Oilfield service company cut to Neutral from
Buy at Global Hunter Securities, which also lowered its price
target for OII shares by $11 to $81 a share.
(-) EGY, (-2.2%) Hires Steven Guidry as CEO, effective Oct. 21.
Guidry currently is president of Marathon's subsidiary in Libya and
previously led its central Africa business unit.
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