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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost $1.03 to $74.61 on the New York Merc, while Brent for January lost 84 cents to $78.47 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.25 to WTI ($59.36), up from a discount of $15.75. Natural gas for December lost 9.7 cents to $4.24. The TSX energy index lost a fraction of a point to close at 256.56.

Talisman Energy Inc. (TLM) lost five cents $6.50 on 6.34 million shares. It is working to climb up from a 12-year intraday low of $6.005 on Nov. 4, the day it released its third quarter financials, warned of looming writedowns in the North Sea, and provided almost no update on its search for asset buyers and a new chief executive officer. Talisman said in February that it wanted to sell $2-billion in assets by mid-2015, but has accomplished just one-10th of that goal so far. In a conference call on Nov. 4, management said to expect "one or two announcements" before year-end, adding that it was in the final stages of negotiations to sell mid-stream assets in the Marcellus shale area of New York and Pennsylvania. Bloomberg reported yesterday that the potential buyer is Regency Energy Partners, controlled by billionaire Kelcy Warren's Energy Transfer Equity LP. A deal valuing the assets at over $1-billion could apparently be announced within three weeks. Another deal that investors are hoping for soon involves the sale of Talisman's Alberta Duvernay assets, for which bids were due in September.

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