Oil and gas explorer Endeavour (END +1%) says it's terminated its agreement to purchase...

|About: Endeavour International Cor... (END)|By:, SA News Editor

Oil and gas explorer Endeavour (END +1%) says it's terminated its agreement to purchase Marcellus shale assets from SM Energy (SM -5.5%). The company didn't provide any reason for cancelling the sale, but last month it reported steep Q3 losses, and its CEO noted at the time that the company planned to conserve capital for near-term projects until it sees better North American natural-gas prices and production begins at its wells in the Bacchus field.