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by Stockwatch Business Reporter
West Texas Intermediate crude for December delivery lost eight cents to $54.30 on the New York Merc, while Brent for January lost 88 cents to $60.49 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.90 to WTI ($41.40), unchanged. Natural gas for December lost one cent to $2.89. The TSX energy index added 2.92 points to close at 196.38.
Alberta Montney producer NuVista Energy Ltd. (NVA) gained 46 cents to $8.48 on 5.56 million shares, after releasing its third quarter results and a much-awaited update on its 2018 guidance (it lowered its 2018 capital budget to a range of $270-million to $310-million, while maintaining production at 35,000 to 40,000 barrels of oil equivalent a day). The stock is up from $7 in the last two weeks on no news, just anticipation. Today, investors and analysts were not disappointed. In the third quarter, NuVista produced 29,405 barrels a day, higher than analysts' predictions of about 27,000 barrels a day. Now, it is producing 35,000 barrels a day, in line with its fourth quarter guidance of 35,000 to 38,000 barrels a day. Its full-year production guidance is unchanged at 28,000 to 31,000 barrels a day.
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