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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost 15 cents to $57.20 on the New York Merc, while Brent for January lost 58 cents to $63.69 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.25 to WTI ($42.95), unchanged. Natural gas for December added two cents to $3.15. The TSX energy index lost a fraction to close at 202.96.

Cenovus Energy Inc. (CVE) gained six cents to $14.33 on 8.33 million shares, as speculation swirled about the company's Weyburn project in Saskatchewan. Weyburn is the last of four projects that Cenovus had said it would sell to help pay down its debts. Earlier this year, Cenovus took on $10.5-billion worth of bank debts to partially finance a $17.7-billion acquisition of assets in the Alberta oil sands and the Deep basin. It acquired the assets from ConocoPhillips. So far, Cenovus has sold its Pelican Lake, Suffield and Palliser assets for a total of $2.8-billion. It is confident that it will reach its asset sale target of $4-billion to $5-billion by year-end. Weyburn will likely fetch around $1-billion or more, according to analysts. Potential buyers include Saskatchewan oil producers Spartan Energy Corp. (SPE: $7.24) and Whitecap Resources Inc. (WCP: $9.60), according to The Globe and Mail today. Two more names floating about are Husky Energy Inc. (HSE: $16.62) and Cona Resources Ltd. (CONA: $2.35). Previously, Cona's name emerged in connection with the sale of Pelican Lake, but this property ended up going to Canadian Natural Resources Inc. (CNQ: $46.25) instead. Cenovus, which is keeping mum about Weyburn's price and bidders, says it continues to evaluate its other non-core assets, to see what else it might sell.

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