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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery added 76 cents to $46.49 on the New York Merc, while Brent for October added 78 cents to $49.12 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.25 to WTI ($32.24), up from a discount of $14.55. Natural gas for September added four cents to $2.63. The TSX energy index lost a fraction to close at 200.89.

Penn West Petroleum Ltd. (PWT) added six cents to $2.17 on 3.11 million shares. Yesterday afternoon, it presented at Enercom's 2016 Oil & Gas Conference, taking place this week in Denver. Chief financial officer David Dyck talked up the "mission to repair the company." The company essentially fell into disrepair back in 2008, when its production was a nice-looking 200,000 barrels of oil equivalent a day, but its debt was closing in on a worrisome $4-billion. Over the years, and particularly starting in 2013, the company unloaded assets in an attempt to get its debt under control. Following a particularly large sale earlier this summer for nearly $1-billion, the company's pro forma debt load is just under $600-million, trumpeted Mr. Dyck. This takes some of the sting out of the drop in the production base to just 25,000 barrels a day. That base does not include roughly 20,000 barrels a day that Penn West is looking to sell for $100-million to $200-million. Mr. Dyck said he has a "high level of confidence" that buyers will be found by year-end.

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