Energy stocks were mixed Monday afternoon with the NYSE Energy
Sector Index falling about 0.8% while shares of energy companies in
the S&P 500 were up 0.7% as a group. Crude oil for October
delivery was down 30 cents at $93.25 per barrel while September
natural gas was up $0.09 to $3.93 per 1 million BTU.
In company news, American depository shares of CNOOC Ltd. (
) were higher Monday after the Chinese energy major said it has
begun production at its Wenchang 13-6 oilfield in the Pearl River
Basin of the South China Sea.
The company's ADS recently were ahead about 1.4% at $197.54
each, earlier climbing to a session high of $197.84 per ADS. The
stock has traded with a 52-week range of $147.24 to $211.49 a
share, rising slightly more than 1% over the past 12 months.
The Wenchang 13-6 oilfield includes five wells producing around
1,300 barrels per day. CEO is sole owner and operator of the field,
part of a broader production zone that includes a total of 12
producing wells and one wellhead platform.
In other sector news,
(+) TNP, (+0.6%) Begun at Outperform in new coverage at Wells
(-) SPKE, (-0.8%) Wunderlich initiates coverage with a Buy
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