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Sector Update: Energy

Energy stocks were mixed this afternoon with the NYSE Energy Sector Index rising about 1.1% while shares of energy companies in the S&P 500 were down about 0.7% as a group. Crude oil for September delivery settled 73 cents lower at $97.35 per barrel while September natural gas was unchanged at $3.97 per 1 million BTU.

In company news, Talisman Energy Inc ( TLM ) closed lower Tuesday and the oil and gas producer today saying it still plans to sell all or a portion of its exploration properties in Iraq's Kurdistan region despite the recent conflict in the area.

The company said it expects to begin a sale process in the next several weeks, it said.

TLM shares were down 1.1% at $10.40 each just before the closing bell, matching their session low.

In other sector news,

(+) ATLS, Equity units of master limited partnership company rise in the wake of Morgan Kinder's ( KMI ) Monday announcement to unite its three operating affiliate into a single entity.

(-) BPL, Prices public offering of 2.6 mln limited partnership units at $76 each, a 3.8% discount to Monday's closing price. Proceeds will be used to reduce debt under its revolving credit facility and for other general partnership purposes.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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