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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery added 74 cents to $78.65 on the New York Merc, while Brent for December added 53 cents to $83.39 (all figures in this para U.S.). Western Canadian Select traded at a discount of $17.20 to WTI ($61.45), down from a discount of $17.10. Natural gas for December added 0.8 cent to $4.41. The TSX energy index added 6.96 points to close at 262.75.

Neil Roszell's Raging River Exploration Inc. (RRX) added 99 cents to $8.39 on 4.12 million shares, after releasing its third quarter financials and boosting production guidance for the fourth time this year. The company produced 10,679 barrels of oil equivalent a day in the quarter, up from 5,679 barrels a day a year earlier and surpassing analysts' predictions of 10,500 barrels a day. Cash flow of 31 cents a share surpassed predictions of 29 cents and was up from 21 cents last year. Raging River cited improving results in its core Saskatchewan Viking play; for example, it noted that 12 wells in East Dodsland had average 30-day oil rates of 50 barrels a day, compared with around 38 barrels a day from 22 wells in 2013. Thanks to the good results, as well as the decision to spend a bit more on drilling in the fourth quarter, Raging River has nudged up its year-end guidance to 12,750 barrels a day from 12,500. The budget has gone up to $275-million from $260-million. Only $5-million will go toward new wells -- enough to bring about five more on stream -- and the rest will go toward pilot waterflood programs. Raging River started waterflooding in late 2011. It says its wells have shown EUR (estimated ultimate recovery) increases of 40 per cent so far, with one of its wells showing an EUR increase of 75 per cent (based on decline rates). This quarter and in 2015, it plans to start or expand pilots at Dodsland, Plato, Whiteside and Eagle Lake. The last asset is operated by Whitecap Resources Inc. (WCP: $15.49), which, in its third quarter update on Tuesday, said it will spend over one-quarter of its 2015 budget on the "excellent" Saskatchewan Viking, including Eagle Lake.) Analysts were thrilled to bits with Raging River's third quarter results. TD Securities' Juan Jarrah praised the company's "exceptional track record," and Scotiabank's William Lee raised his target to $13.25 from $12 and declared, "This is a 'MUST OWN' Stock!"

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