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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery lost $2.86 to $50.28 on the New York Merc, coming under pressure from higher-than-predicted U.S. crude inventories (all figures in this para U.S.). Brent for May lost $2.81 to $53.11. Western Canadian Select traded at a discount of $14.30 to WTI ($35.98), unchanged. Natural gas for April added eight cents to $2.90. The TSX energy index lost 8.02 points to close at 194.40.

Clay Riddell's Trilogy Energy Corp. (TET) lost 58 cents to $4.94 on 1.09 million shares, its first time below $5 since June. Yesterday evening, it released underwhelming year-end financial results and dangled the possibility of a financing. The financial results in general held few surprises, given that Trilogy announced its fourth quarter production and cash flow in January. It also announced in January that its proposed 2017 program called for production of 24,000 barrels of oil equivalent a day on a cash-flow-covered budget of $130-million. About $85-million is to go to the company's Alberta Montney oil and gas assets, which provide the bulk of production. The rest of the budget will go to the Alberta Duvernay shale, which was contributing about 2,800 barrels a day as of December. Trilogy stuck by its budget in its latest update, but added that it is interested in potentially speeding up its Duvernay development, in which case it "may require additional sources of financing."

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