12:40:57 EDT Thu 28 Oct 2021
Enter Symbol
or Name

Login ID:

Energy Summary for Sept. 22, 2021

2021-09-22 21:16 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added $1.67 to $72.23 on the New York Merc, while Brent for November added $1.83 to $76.19 (all figures in this para U.S.). Prices rose as the U.S. government reported that U.S. crude inventories have fallen to their lowest level in three years. Western Canadian Select traded at a discount of $11.45 to WTI, unchanged. Natural gas for October was unchanged at $4.81. The TSX energy index added 5.04 points to close at 132.87.

The U.S. shale industry is getting another megadeal. Shell has agreed to sell its assets in the world's busiest shale patch, the Permian basin of Texas and New Mexico, to ConocoPhillips for $9.5-billion (U.S.) cash. This is the largest all-cash acquisition in the U.S. upstream sector in more than three years. It is also a continuation of a year-long period of Permian mania, following Chevron's $12.1-billion (U.S.) takeover of Noble Energy last October, Devon Energy's $5.8-billion (U.S.) takeover of Parsley Energy last January, and the in-progress $17-billion (U.S.) merger of Cimarex Energy and Cabot Oil, just to name a few.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2021 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.