NEW YORK (TheStreet) -- Kinder Morgan (KMI) agreed to buy El Paso (EP) for $21.1 billion in a cash-and-stock deal.

The transaction, which values El Paso at $38 billion including El Paso's outstanding debt, creates the largest network of natural gas pipelines in the U.S. and is the largest energy merger this year.

El Paso shares were surging 27.1% to $24.90 in premarket trading Monday, while Kinder Morgan shares were rising 2.1% to $27.44.

Norway's Statoil ( STO) agreed Monday to buy Brigham Exploration ( BEXP) for $36.50 a share in cash.

The total equity value of the deal about $4.4 billion; the enterprise value is about $4.7 billion.

Brigham shares were soaring 19.7% to $36.33.

Anadarko Petroleum ( APC) agreed to pay BP ( BP) $4 billion to settle all claims from the Gulf of Mexico oil spill in April 2010.

Anadarko shares were adding 4.9% to $74 and BP shares were gaining 3.3% to $41.20.

Wells Fargo ( WFC) reported third-quarter profit of 72 cents a share, missing the Wall Street consensus target of 73 cents.

Shares were tumbling 3.1% to $25.85.

Citigroup ( C) reported third-quarter profit of $1.23 a share, beating the average analyst estimate of 81 cents.

Shares were rising 1.1% to $28.72.

Entertainment products company Hasbro ( HAS) reported third-quarter profit of $1.27 a share, below the average analyst expectation of $1.30.

Shares were falling 0.8% to $34.46.

Oil services company Halliburton ( HAL) reported third-quarter earnings of 94 cents a share, beating the average analyst estimate of 92 cents.

Shares were up 0.4% to $37.56.

Information technology company IBM ( IBM) is expected to report third-quarter earnings of $3.22 a share after the markets close, above earnings of $2.82 last year.

Shares were down 0.3% to $190.05.

-- Written by Andrea Tse in New York.

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