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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery lost $1.18 to $48.84 on the New York Merc, while Brent for March lost $1.77 to $54.66 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.65 to WTI ($35.19), down from a discount of $13.40. Natural gas for March added 12 cents to $2.79. The TSX energy index added a fraction to close at 230.87.

Mickey Dunn's Bellatrix Exploration Ltd. (BXE) added 50 cents to $3.29 on 10 million shares, thanks to an intriguing new insider. Fifty-seven-year-old American billionaire Seth Klarman, the Economist-dubbed "Oracle of Boston" and founder of the $28.5-billion (U.S.) Baupost Group hedge fund, has filed SEDAR and EDGAR reports showing ownership of 21.8 million of Bellatrix's 191 million shares as of Jan. 31. Mr. Klarman is a respected value investor. Baupost posted gains of as much as 8 per cent in 2014 (surpassing the industry average of 1.4 per cent, according to Bloomberg), compared with 16 per cent in 2013 and 17 per cent annualized since inception in 1982. Recently Mr. Klarman has been narrowing his focus on pharmaceutical, technology, and oil and gas stocks. He did not own any shares of Bellatrix as of Sept. 30. His new EDGAR filing says he held 18.1 million shares as of Dec. 31 and 21.8 million as of Jan. 31. During his buying period (Oct. 1 to Jan. 31), Bellatrix traded between $2.37 and $7.01. The filing does not disclose Mr. Klarman's average cost. He will certainly be better off than Bellatrix's largest shareholder, which is another hedge fund, this time the New York-based Orange Capital. It is run by Daniel Lewis, who got himself appointed to Bellatrix's board in December. Orange started buying last summer and currently owns 28.1 million shares at an average cost of about $7.19.

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