EmailThe S&P Energy Sector -1.1% is trading below the the broader market at -0.7% July crude oil is -0.8% at $91.18/barrel, June natural gas is -1.2% at $2.67/MMBtu, July RBOB is -0.8% at $2.84/gallon, and July heating oil is -0.8% at $2.84/gallon. Trading higher following earnings/guidance: GASS (-0.7%). Sector News: RCON (+79.2%) Recon Technology announced that one of its variable interest entities, Nanjing Recon Technology, signed a contract with the China National Petroleum Corp.'s Sichuan Petroleum Administration Bureau to provide the latter with the Emerson PCS & SIS Systems in its South Yolotan Gas Field Project located in Turkmenistan. The total contract value exceeds RMB19 mln ($3.02 mln), PCX (+10.6%) Patriot Coal disclosed it sent a letter to its employees: 'operations are performing well', GDP (+1.2%) Goodrich Petroleum announced its participation in and the completion of the Encana - Anderson 17H-1 well with a 72-hour production rate of 1,082 barrels of oil equivalent per day, WG (-2.1%) Willbros Group awarded construction contract for hydrogen pipeline by Praxair; terms not disclosed, TLLP (-1.7%) Tesoro Logistics LP filed for a $500 mln common unit shelf offering, RDS.A (-1.1%) Royal Dutch Shell's offer for explorer Cove Energy has been topped by a $1.9 bid by Thailand's PTT Exploration, according to reports, REXX (-1.0%) Rex Energy announced the appointment of Michael L. Hodges as Chief Financial Officer. Broker Calls: PCX (+10.6%)
Patriot Coal downgraded at Deutsche Bank, TOT (-1.2%) Total S.A.: heard upgraded at Canaccord, WPZ (-1.0%) Williams Partners upgraded at Wells Fargo, BP (-0.7%) BP: Heard upgraded at Canaccord.
