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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery added 55 cents to $49.58 on the New York Merc, while Brent for October added 41 cents to $52.42 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.20 to WTI ($39.38), unchanged. Natural gas for September lost three cents to $2.77. The TSX energy index added 3.49 points to close at 178.87.

ARC Resources Ltd. (ARX) added 80 cents to $16.87 on 2.24 million shares. Yesterday after the close, it released its second quarter financials, boosted its budget and touted a "new project sequence" that is expected to increase production by 50,000 barrels of oil equivalent a day over the next 2-1/2 years. That would represent a 44-per-cent increase over ARC's second quarter production of 113,410 barrels a day. The second quarter production was in line with analysts' predictions, as was second quarter cash flow of 48 cents a share. ARC was most pleased with itself during the quarter for completing its new Dawson phase 3 processing plant in the B.C. Montney. President and chief executive officer Myron Stadnyk patted ARC on the back for finishing the plant on budget and ahead of schedule. Thanks to the early start-up, ARC has tightened its full-year production guidance to a range of 120,000 to 124,000 barrels a day from a range of 118,000 to 124,000 barrels a day.

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