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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery lost 72 cents to $50.95 on the New York Merc, while Brent for February lost 16 cents to $54.33 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.45 to WTI ($35.50), up from a discount of $15.60. Natural gas for January added 15 cents to $3.59. The TSX energy index added 1.39 points to close at 222.44.

Alberta gas producer Bellatrix Exploration Ltd. (BXE) added 11 cents to $1.19 on 3.87 million shares, after agreeing to sell non-core Cardium and Mannville assets in the Harmattan area for $80-million, another milestone in its debt-reduction efforts. The company has now managed to raise over $400-million through asset sales and financings over the last seven months. Its first asset sale was in May, when it sold some infrastructure for $75-million. Another infrastructure sale followed in July for $113-million. Bellatrix raised $80-million through a bought deal later in July, and then $10-million through a private placement in October. In between those financings, it sold non-core Cardium assets in the Pembina area to InPlay Oil Corp. (IPO: $2.03) for $47-million. Production from those assets was around 930 barrels of oil equivalent a day. That was the only production sold by Bellatrix during this process, until today. The company has now agreed to sell its 3,076-barrel-a-day Harmattan assets for $80-million.

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