The S&P Energy (-1.2%) starts the week off on a negative note and is
currently underperforming weakness in the broader market (-0.6%). It was a quiet
start to the week for energy related issues.
Sector News: STO (-1.1%) announced plans to divest a 24.1% direct and indirect
stake in Gassled joint venture for a consideration of NOK 17.35 billion. XCO
(-1.1%) announced an incident occurred at its 50% owned TGGT Holdings amine
treating facility in northwest Red River Parish, Louisiana on May 28, 2011,
where one person was killed.
Broker Calls: BTE (-2.7%) was downgraded to Hold from Buy at TD Newcrest. OAS
(-2.9%) was initiated with Market Perform at BMO Capital. The firm also upgrade
shares of WTI (-1.1%) to Market Perform from Underperform. NOA (-10.1%) was
downgraded to Market Perform from Outperform at Raymond James.






