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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery, the benchmark in North America, added $1.03 to $94.57 on the New York Merc, while Brent for November, the benchmark in Europe, added 20 cents to $97.20 (all figures in this para U.S.). Western Canadian Select, Canada's heavy oil benchmark, traded at a discount of $14.50 to WTI ($80.07), unchanged. Natural gas for October, the international benchmark, added 17 cents to $4.15. The TSX energy index added 1.21 points to close at 294.77.

Talisman Energy Inc. (TLM) lost 18 cents to $9.75 on 4.3 million shares. Some of the selling may have been prompted by TD Securities analyst Menno Hulshof, who downgraded the stock today to "hold" from "buy," citing the reduced probability of a "game-changing" transaction in the near term. He slashed his target price to $10.50 from $14. Suitable but unlikely game-changers, wrote Mr. Hulshof, include the spin-out of an entire division or a corporate sale. Talisman was previously in talks to sell itself to Spain's Repsol, but those talks have fallen apart, according to various media outlets over the last few months. The Spanish company is reportedly still interested in some of Talisman's assets. Talisman sold over $2-billion of assets in 2013 and said in February of this year that it would sell another $2-billion over the next 12 to 18 months. It repeats "12 to 18 months" in every update, extending the deadline, presumably because the work has been a lot harder this time around. Over the summer, aided by TD Securities, Talisman sold its assets in the Central Foothills area of Alberta and British Columbia for $120-million to Ikkuma Resources Corp. (IKM: $1.97). It sold $43-million of other Canadian assets in the spring. Other than that, however, it has been having a tough time. It tried to sell its assets in the Texas Eagle Ford, but offers came in lower than the desired $2-billion, so it dropped the idea. It has also been unsuccessful in finding buyers for its assets in the North Sea, which carry expensive commitments and liabilities, and it is still hunting for a farmee in the Alberta Duvernay, which it has been doing since 2012.

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