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by Stockwatch Business Reporter
West Texas Intermediate crude for September delivery added 34 cents to $41.14 on the New York Merc, while Brent for October lost 54 cents to $46.62 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.55 to WTI ($25.59), up from a discount of $16.10. Natural gas for September added 3.9 cents to $2.755. The TSX energy index lost 4.39 points to close at 164.55.
Ronald Poelzer and Keith MacPhail's NuVista Energy Ltd. (NVA) lost 29 cents to $4.48 on 1.07 million shares, on top of the 46 cents it lost yesterday. Some of the activity may reflect bad press. Yesterday afternoon, the Alberta Energy Regulator said it was investigating a spill from one of NuVista's pipelines in Alberta, which leaked about 629 barrels of oil, gas and waste water. (Media outlets have been reporting the spill in litres, being 100,000, which sounds much worse than 629 barrels.) NuVista says the pipeline was shut in right away and cleanup has begun. There have been no reports of harm to wildlife. This is the second bit of bad pipeline news that NuVista has had this month. A couple of weeks ago, the company was one of several affected by the week-long shutdown of the Alliance pipeline owned by Veresen and Enbridge, after poisonous hydrogen sulphide gas got into the mainline. NuVista had to curtail 13,000 barrels of oil equivalent a day of its production. This will likely decrease its average third quarter production by 1,000 barrels a day. Last week, NuVista said it would not change its full-year 2015 guidance of 22,500 to 24,000 barrels a day, but would likely be on the low end.
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