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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added 17 cents to $44.40 on the New York Merc, while Brent for September added 17 cents to $46.88 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.75 to WTI ($34.65), up from a discount of $9.90. Natural gas for August added seven cents to $2.93. The TSX energy index added 1.57 points to close at 166.33.

Clay Riddell's Paramount Resources Ltd. (POU) added 86 cents to $18.31 on 1.46 million shares, regaining some of the $1.29 it lost on Friday after announcing its agreements to buy both Apache Canada and Trilogy Energy Corp. (TET), up 24 cents to $4.89 on 1.83 million shares. The Apache Canada deal will cost Paramount $459.5-million, and the Trilogy deal will see Paramount issue one of its own shares for every 3.75 Trilogy shares. Both deals are expected to close later this quarter. As a result, Paramount expects to produce 90,000 barrels of oil equivalent a day in the fourth quarter of 2017, up from just 11,900 barrels a day in the fourth quarter of 2016. Jim Riddell, president and CEO of Paramount (and son of Riddell family patriarch Clay Riddell), lauded the "strategic" deals and the "top-tier development opportunities" that they are expected to bring.

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