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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery lost $2.39 to $46.60 on the New York Merc, while Brent for September lost $2.39 to $47.96 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.70 to WTI ($32.90), unchanged. Natural gas for August plunged 22.3 cents to $2.764. The TSX energy index lost 2.03 points to close at 190.26.

EnCana Corp. (ECA) lost 32 cents to $9.92 on 7.16 million shares. It is facing another delay to the planned $900-million (U.S.) sale of its liquids-rich DJ basin assets in Colorado to Crestone Peak Resources, an entity controlled mainly by the Canada Pension Plan Investment Board. This sale was announced last October and was originally expected to close during the fourth quarter of 2015. In late December, EnCana postponed the closing date to the second quarter of 2016, without explaining why. The mysterious delay led to concerns that the deal was at risk of being unfavourably amended or even cancelled. EnCana's president and chief executive officer, Doug Suttles, worked to reassure investors that everything was just fine. "And the proceeds haven't changed; the deal terms haven't shifted," he said during a conference call in May. "And we keep working forward with Crestone, who is the purchaser, to get that closed by the end of the quarter, and I think we're on track to achieve that." Yet on June 30, EnCana and Crestone put out a joint press release announcing another delay. This one, at least, is much shorter. Both parties say they are committed to closing by the end of the month.

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