Energy shares are higher heading into the close with February
crude oil set to settle down about 20 cents at $102.75 a barrel
after reaching $103.74 earlier in the day on reports EU officials
have reached a preliminary deal to bar imports of Iranian oil. No
starting date for the embargo has been set.
) was down fractionally at $2.25 a share after selling its 51%
stake in Blue Flint Ethanol LLC to Great River Energy for
approximately $18.5 million in cash. Net proceeds will be
reinvested in assets of HW business and to strengthen its balance
Cabot Oil & Gas Co. (
) was up about 6.5% after announcing a 2-for-1 stock split for
shareholders of record as of Jan. 17. The company also boosted its
annual dividend to 16 cents a share from 12 cents.
Enterprise Products Partners (
) and Genesis Energy (
) announced plans today to build a 149-mile pipeline from the
Lucius development area in southern Keathley Canyon of the Gulf of
Mexico. Six oil producers -- Exxon Mobil (
), ENI S.p.A. (E), Anadarko Petroleum (APC), Plains Exploration
(PXP), Apache (APA) and Petrobras (PBR) -- have signed
transportation agreements for the new pipeline.
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