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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery added $1.03 to $53.78 on the New York Merc, while Brent for March added $1.16 to $56.24 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.00 to WTI ($39.78), unchanged. Natural gas for February added five cents to $3.38. The TSX energy index lost 1.61 points to close at 209.09.

Clay Riddell's Paramount Resources Ltd. (POU) lost six cents to $17.02 on 244,300 shares. Its president and chief executive officer, Jim Riddell (who is the son of executive chairman Clay Riddell), talked up Paramount's Alberta Montney assets yesterday afternoon at CIBC's 20th Annual Whistler Institutional Investor Conference in Whistler, B.C. It was at a different conference, the Peters & Co. Annual Energy Conference in Toronto last September, where Jim Riddell first shared his near-term production goal for Paramount. At the time, Paramount had just finished selling its 30,000-barrel-of-oil-equivalent-a-day Musreau/Kakwa assets to Seven Generations Energy Ltd. (VII: $27.17) in August for over $2-billion, putting itself in a position to eliminate its debt (which it did over the following months) but also eliminating about three-quarters of its production. Paramount needed an alluring new production priority. Jim Riddell picked the Karr/Gold Creek Montney, then producing about 5,000 barrels a day. He vowed in September that this production would quintuple to around 25,000 barrels a day by mid-2017.

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