Energy stocks are narrowly higher, with the NYSE Energy Sector
Index rising 0.3% while shares of energy companies in the S&P
500 are up about 0.3% as a group. Crude oil for November delivery
is down 81 cents at $98.41 per barrel, while November natural gas
is down 6 cents at $3.61 per 1 million BTU.
In company news, BHP Billiton Limited (
) is up 2.7% at $72.26 a share, climbing as much as 3.6% earlier,
following reports the Australian minerals company is set to sell
roughly half of its oil and gas acreage in the Permian Basin of
west Texas and New Mexico.
The company confirmed the upcoming sale, telling Reuters it
plans to focus on properties that "holds the most immediate
interest for us while divesting some other parts of our
According to an Oct. 16 request for proposals obtained by the
news service from adviser Scotia Waterous, BHP expects to sell
around 250,000 of its 500,000 net acres in the region - including
about 165,000 net acres in the Delaware Basin and the remainder in
the Midland Basin.
In other sector news,
(+) QEP, (+5.8%) Hedge fund Jana Partners is now the oil
producer's largest shareholder, taking a 7.5% stake, according to a
new stock ownership filing.
(+) NFX, (+2.5%) Sells all of its equity interests in Newfield
Malaysia Holdings to SapuraKencana Petroleum Berhad for $898 mln in
cash. Deal is expected to close in early 2014.
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