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by Stockwatch Business Reporter
West Texas Intermediate crude for October delivery lost $1.04 to $45.02 on the New York Merc, while Brent for November lost 97 cents to $47.20 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.20 to WTI ($30.82), down from a discount of $14.10. Natural gas for October was unchanged at $2.90. The TSX energy index lost 6.49 points to close at 188.48.
EnCana Corp. (ECA) lost 75 cents to $12.64 on 13.5 million shares. It is in the headlines for an explosion that occurred at one of its facilities in northeastern British Columbia, injuring one worker. The facility provides water for fracking operations near Dawson Creek. EnCana calls it the Montney water resource hub, and says on its website that the hub draws saline water (which is unfit for human or agricultural use) from an underground aquifer, reducing EnCana's reliance on surface water and freshwater. What caused the incident yesterday remains unclear. The Dawson Creek Mirror, evidently the first on the scene, reports that the site has been secured and the RCMP, the B.C. Oil and Gas Commission, and the Ministry of Environment have begun investigating. The commission says there has been no damage to the environment. An EnCana spokesman added: "We suspect there was an explosion but there is no fire at the facility. There is no evidence of a spill and no current risk to local residents. Our top concern is for the well-being of the injured worker," who was taken to the hospital. Subsequent coverage from the CBC indicates that a WorkSafeBC fatal-and-serious-injury officer also headed to the site.
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