3 Energy Stock Stories To Fuel Monday Investment Chatter

BP (NYSE:BP): Closing price $43.97

On Monday, the Brazilian oil start-up HRT Participacoes em Petroleo said that it will purchase a 60-percent interest in the offshore Polvo heavy oil field from the local division of BP at a price of $135 million. The transaction would represent HRT’s transformation from a pure exploration play into a small oil producer. The output at Polvo is roughly 13,000 barrels of heavy crude oil per day, according to HRT. The Brazilian division of Denmark’s Maersk Oil holds the remaining 40 percent of Polvo.

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BP

 Sunoco Logistics Partners (NYSE: SXL): Closing price $60.09

Sunoco reports that it has received sufficient binding commitments to allow its Mariner South Pipeline to go forward as planned. The Mariner South Pipeline will carry export grade propane and butane from Lone Star’s storage and fractionation complex in Mont Belvieu, Texas to Sunoco Logistics terminal in Nederland, Texas. Even though enough commitments have been attained for this project to move forward, the binding open season period will stay open to solicit additional shipper interest.

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SXL

Exxon Mobil Corporation (NYSE:XOM): Closing price $90.58

Exxon Mobil and its partners are now searching for what has so far eluded the Irish: offshore oil and gas. The oil giant has kicked off a six-month drilling campaign off southwestern Ireland with a rig relocated to the area in late April, say media reports. Along with Exxon, the consortium includes Italy’s Eni (NYSE:E) and Spain’s Repsol, plus the Ireland-based company Providence Resources and a junior partner. For its part, Providence said it started to drill the Dunquin well in April, adding that drilling was expected to take “several months” using the Eirik Raude semi-submersible drilling rig.

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XOM

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