EmailThe S&P Energy Sector +0.1% is trading below the broader market at +0.3% Nov crude oil is flat at $92.51, Nov natural gas is -1.2% at $3.44/MMBtu, Nov RBOB is -0.4% at $2.91/gallon, and Nov heating oil is +0.4% at $3.15/gallon. Trading lower following guidance: CLB (-15.0%).
Sector News: LEI (+8.8%) Lucas Energy announced execution of joint venture term sheet with Milestone Energy, GMXR (+2.7%) GMX Resources announced a definitive agreement to sell a portion of its East Texas and Louisiana assets for ~$69 mln, MCF (+2.7%) Contango Oil & Gas Acting CEO and CFO bought 46,514 shares at $49.08-49.76 worth ~$2.3 mln, TRMD (+2.2%) A/S Dam TORM signed restructuring agreement with its banks and time charter partners, EQU (+2.1%) Equal Energy announced sale of Halkirk/Alliance/Wainwright/Clair assets and substantially all remaining non-producing Canadian assets for $17.4 mln , HK (+1.5%) Halcon Resources provided operational update; co estimates that it will add four to six operated drilling rigs to its resource style drilling program by year end 2012, SUN (+1.2%) Sunoco and Energy Transfer (ETP) announced preliminary results of merger consideration election, SFL (-6.1%) Ship Finance Intl priced underwritten public offering of 6 mln common shares; price not disclosed, GEL (-4.1%) Genesis Energy, L.P. priced secondary public offering of 6 mln common units representing limited partner interests by Quintana Capital Group II and certain of its affiliates and certain other selling unitholders at $32.15 per common unit, LPI (-4.0%) Laredo Petroleum filed for a 12.5 mln share common stock offering by selling stockholders, SOQ (-2.4%) Sonde Resources announced third quarter activity and North Africa update, TLLP (-1.7%) Tesoro Logistics LP priced its offering of 3.7 mln common units representing limited partner interests in the Partnership at $41.80/common unit, PTEN (-1.5%) Patterson-UTI reported drilling activity for September 2012; co had an average of 210 drilling rigs operating, including 203 rigs in the United States and 7 rigs in Canada, FET (-0.8%) Forum Energy Tech. acquired Syntech Technology, terms not disclosed. Broker Calls: CRK (+3.1%) Comstock Resources, XEC (+3.0%) Cimarex, and DVN (+1.1%) Devon Energy upgraded at FBR Capital, CLB (-15.0%) Core Labs downgraded at Tudor Pickering, WLL (-1.6) Whiting Petroleum downgraded at Sun Trust Rbsn Humphrey, BHI (-1.1%) Baker Hughes downgraded at Tudor Pickering, SPN (-1.0%) Sup Energy Svcs downgraded at Tudor Pickering.
