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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery, the benchmark in North America, lost 89 cents to $91.52 on the New York Merc, while Brent for November, the benchmark in Europe, lost $1.42 to $96.97 (all figures in this para U.S.). Western Canadian Select, Canada's heavy oil benchmark, traded at a discount of $15.25 to WTI ($76.27), unchanged. Natural gas for October, the international benchmark, added 1.3 cents to $3.85. The TSX energy index lost 5.95 points to close at 293.51.

Talisman Energy Inc. (TLM) lost 24 cents to $9.82 on 10.2 million shares, its first time below $10 since May, 2012. The company has basically confirmed that it is not on the verge of a takeover by Spain's Repsol. It never said it was, exactly, but in July, it jumped after mentioning talks with Repsol about "various transactions." A takeover was the most popular rumour. In late August, however, sources told European newspapers that Repsol was no longer seeking to buy the company outright but would consider asset sales. On Friday, Talisman's chief executive officer, Hal Kvisle, told Bloomberg, "We may do something with Repsol down the road, but probably not of the significance people were expecting." He added that that Repsol was "quite interested" in some of Talisman's assets. These are most likely its shale assets in the Texas Eagle Ford and the Alberta Duvernay. Talisman tried to sell its Eagle Ford assets earlier this year, but offers came in lower than expected. (The company had hoped to attract $2-billion.) In the Duvernay, Talisman has been looking for a joint venturer since 2012, and Mr. Kvisle said it will soon end its search one way or another. He told Bloomberg on Friday, "We'll either know that we've got a joint venture partner or not in the next couple of months."

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