Energy issues are mostly up pre-market, while oil prices gain as
the dollar falls. Chevron Corp (
) will by Atlas Energy Inc (
) for $4.3 billion which will boost Chevron's stake in the
Marcellus shale fields. Chevron will pay $43.34 a share for Atlas,
which marks a 37% premium over the company's closing price Monday.
Speculation is growing that Woodside Petroleum Ltd (WPL) will be
the target of a takeover after Royal Dutch Shell plc (RDSA) reduced
its stake in the Australian energy producer. Monday, Shell sold a
10% stake in Woodside for $3.3 billion, and rumors abound that it
will sell off its remaining 24.27% stake in the company. Brent
crude is up 0.4% at $88.84 a barrel on NYMEX.
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.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.