Top Energy Stocks
Energy stocks were ending mostly lower this afternoon, with the NYSE Energy Sector Index slipping over 0.8% while the shares of energy companies in the S&P 500 were down more than 0.7% as a group. West Texas Intermediate crude oil for January delivery slid $2.53 on Friday to $55.58 per barrel in New York while the global benchmark Brent crude January contract was falling $1.37 to $62.50 per barrel. January natural gas futures were 16 cents lower at $2.57 per 1 million BTU.
Among energy stocks moving on news:
(-) Nustar Energy (NS) was down 1%. A new regulatory filing showed William Greehey, a director at the petroleum storage and logistics company, Monday agreed to buy 527,426 of its shares directly from the company for $28.44 apiece.
In other sector news:
(-) Chevron (CVX) retreated Friday, falling 0.7%, after a spokesman for the energy major confirmed a Reuters report it was selling its 40% ownership stake in two offshore exploration blocks in Nigeria. Chevron has tapped Scotiabank (BNS) to assist with selling the properties, which are producing around 6,200 barrels of oil equivalent daily, according to a sales document reviewed by Reuters.
(-) Petrobras (PBR) declined fractionally after Thursday saying it has sold the remaining 30% interest in the Frade concession in the Campos Basin off the northern Brazilian coast that Petro Rio didn't already own for $100 million. Under the terms of the proposed transaction, Petro Rio will pay the Brazilian energy major in two installments, consisting of a $7.5 million initial payment when the sales contract is signed and $92.5 million due after the deal closes.