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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost 50 cents to $44.93 on the New York Merc, while Brent for January lost 43 cents to $46.01 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.35 to WTI ($29.58), unchanged. Natural gas for December lost eight cents to $2.69. The TSX energy index lost a fraction to close at 208.47.

Alberta Montney producer NuVista Energy Ltd. (NVA) lost 24 cents to $6.79 on 1.37 million shares. It has been about five weeks since the company announced its five-year plan to roughly triple production to over 60,000 barrels of oil equivalent a day by 2021. The stock jumped to $7.48 from $7.10 just after the announcement, but has since dropped below $6.80, despite the best efforts of president and chief executive officer Jonathan Wright, who talked up the five-year plan yesterday at GMP FirstEnergy's Energy Growth Conference in Toronto. "It's great to be on our way!" he declared. By that, he seems to mean that the company is heading into a busy winter in the Wapiti Montney, where it focuses on four areas: Bilbo, Elmworth, Gold Creek and Pipestone. The first two are contributing the bulk of NuVista's current production. Mr. Wright noted that about 70 per cent of the production is gas, but more than 50 per cent of revenue is from high-margin condensate -- "that's the power of this Montney play," he rhapsodized. NuVista plans to drill about 29 wells next year, with 80 per cent of those evenly split between Elmworth (where three of NuVista's latest wells showed even higher condensate rates than usual) and Bilbo (where NuVista has brought two wells on stream this month, has five other wells in progress and is planning to drill six more in January). NuVista also plans to drill three wells in 2017 in the relatively undeveloped Gold Creek area, along with its first-ever well in the Pipestone area. Pipestone is surrounded by EnCana Corp. (ECA: $15.31) to the west and north and has "beautiful" potential, according to Mr. Wright.

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