4 Energy Stock Stories To Spark Investment Interest

Occidental Petroleum Corp. (NYSE:OXY): Closing price $90.48

Occidental Chief Executive Steve Chazen advised investors this week that his firm might think about divesting its overseas assets or splitting into three separate entities so as to fund a stock repurchase and improve its share price. During a conference hosted by UBS in New York on Wednesday, Chazen said that selling assets to shrink the size of the company might be necessary in order for shareholders to obtain greater value from the oil and gas producer. One the scenarios Occidental is considering is the sale of its Middle Eastern unit, which includes onshore and offshore oil and gas projects in Qatar and Oman, said UBS.

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OXY

Marathon Oil Corporation (NYSE:MRO): Closing price $35.21

Marathon had been participating in discussions regarding a potential sale of a portion of its 20-percent outside-operated interest in the Athabasca Oil Sands Project in Alberta. However, an accord was not reached with the prospective buyer and negotiations have been terminated. Further, Marathon Oil is not engaged in additional discussions concerning a potential sale of these assets; but it will continue to explore ways to optimize its portfolio for profitable growth and to give value to shareholders. Thus, the firm’s stated goal of selling off between $1.5 billion and $3 billion in assets during the period of 2011 through 2013 remains intact.

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MRO


American Electric Power Co. (NYSE:AEP): Closing price $48.28

The New York Stock Exchange has ruled to let stand all trades in American Electric Power and NextEra Energy (NYSE:NEE), but it said that prices for  certain “aberrant” trades will be excluded from the high and low prices in data feeds. NYSE Euronext advised in a trader alert at 11:10 a.m. Eastern Time that it was looking into trades in both utility-sector firms that occurred between  9:30 a.m. and 9:31 a.m. Eastern Time. Each stock saw sharp drops in the moments following Thursday’s opening bell before rebounding. Shortly after the opening, FactSet data indicated that American Electric Power fell by over 50 percent, while NetxEra dropped by more than 60.

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AEP

Magellan Midstream Partners (NYSE:MMP): Closing price $53.93

Magellan might construct a pipeline extension that would link its network to its terminals in central Arkansas, where the imminent shutdown of a separate distillate pipeline has raised serious fears regarding supply in that state. On Thursday, the company said that it was “exploring the feasibility” of building a new pipeline to connect its network to its terminals in Little Rock, which would allow the company to move as much as 75,000 barrels per day of refined products into the area.

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MMP

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