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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery added 23 cents to $54.38 on the New York Merc, while Brent for December added 47 cents to $61.37 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.90 to WTI ($41.48), unchanged. Natural gas for December lost seven cents to $2.90. The TSX energy index added 2.49 points to close at 193.46.

Li Ka-shing's Husky Energy Inc. (HSE) edged up two cents to $16.72 on 3.06 million shares. The stock got as low as $16.06 last Thursday, the day Husky released its third quarter financials, but has since rallied nicely. Husky used the third quarter report as an opportunity to trim its 2017 budget to about $2.25-billion from $2.55-billion while leaving its production guidance intact at 320,000 to 335,000 barrels of oil equivalent a day. Third quarter production was nearly within that range, at 318,000 barrels a day. More than one-third of that production came from Husky's thermal bitumen projects in Western Canada. Husky's thermal program was "rejuvenated" (as the company put it) back in 2010, a year in which thermal projects contributed just 6 per cent of total output. Since then Husky has steadily heightened its focus on thermal production. It boasted in last week's report that one of its thermal projects under construction is now expected to start production in the first quarter of 2019, a full quarter earlier than previously forecast, while three others are on schedule to start production in 2020.

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