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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost $2.17 to $57.26 on the New York Merc, while Brent for July lost $2.25 to $64.02 (all figures in this para U.S.). Western Canadian Select traded at a discount of $8.65 to WTI ($48.61), unchanged. Natural gas for June lost 6.2 cents to $2.94. The TSX energy index lost 3.09 points to close at 218.93.

Two Alberta Montney producers had opposite reactions to their first quarter updates. Craig Stewart's RMP Energy Inc. (RMP), in the Ante Creek and Waskahigan area, added a cent today and 20 cents on Friday, pleasing investors. Its first quarter results were generally in line with analysts' predictions, largely because it had already announced first quarter production of around 12,250 barrels of oil equivalent a day, so the more interesting updates were about future plans, including a potential new core area. RMP did not identify the area but said it might start drilling this winter. It also has big plans for its Ante Creek area around that time, including a step-out well to extend the play farther south (fourth quarter of 2015) and perhaps a secondary recovery project, such as waterflooding (first quarter of 2016). Work like this should give investors something to look forward to as they await news of the potentially glummer variety from Alberta's new NDP government. The NDP has promised to review Alberta's royalty program, which could have an effect on RMP. It gets essentially all of its production from Alberta Crown lands.

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