Energy Business Review: Suntech Power Holdings Partners with Dupont

February 01, 2012

Marathon Petroleum Corp. (MPC) goes up after saying it is looking into “strategic alternatives.” To enhance shareholder value in its pipeline and infrastructure units, MPC says it may float an initial public offering of a master limited partnership representing some of its midstream assets in the second half of the year.

Don’t Miss: Acquisitions, Growth Not Out of the Question for Marathon Oil.

Quicksilver Resources Inc. (NYSE:KWK) plans to cut its 2012 capital spending from $370 million versus $696 million in 2011. Production is projected to be flat with an average daily production volume, which should consist of around 80% natural gas and 20% natural gas liquids and crude oil.

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares are up after announcing an agreement to power Navistar International Corporation (NYSE:NAV) trucks with its natural gas. CLNE says it will provide truck lessees with fueling contracts whose fuel cost savings help to lower overall costs, by working with NAV and its lessees.

Investing Insights: Exxon Mobil Q4 Earnings Call Highlights: U.S. Gas Outlook.

Suntech Power Holdings Co. (NYSE:STP) trades higher after striking a partnership with DuPont (NYSE:DD) that will cover technology development, cost-reduction efforts, and marketing, as well as the supply of DuPont’s Tedlar solar film for use in Suntech’s modules.

Endeavor International Corp. (AMEX:END) trades up after announcing a private placement to issue up to $500 million in new senior notes due 2020. Net proceeds of the offering will go to fund the acquisition of oilfield interests in the United Kingdom North Sea as well as paying down senior term loans due next year.

Don’t Miss: Gold and Silver Climb Higher After Economic Data.

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To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com