Thomson Reuters: October 17 Energy Commentary
October 17, 2012
WEDNESDAY, OCTOBER 17, 2012
SECTOR COMMENTARY
Oil and gas stocks closed higher, led by E&P, services and drillers with the S&P 500 inching closer to its best level this year, lifted by a strong housing report. Shares of Celtic Exploration gained 45% after Exxon Mobil Corp said that it would acquire the Canadian oil and gas company in a deal valued at about C$3.1 billion ($3.1 billion) to expand its footprint within Canada. Additionally, Halliburton rallied at the close by 2% despite reporting that third-quarter profit fell due to inflated ...
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