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Energy Summary for Nov. 24, 2017

2017-11-24 20:37 ET - Market Summary

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by Stockwatch Business Reporter

After a quiet post-Thanksgiving trading session, U.S. markets closed early so Americans could hunt for Black Friday bargains. West Texas Intermediate crude for January delivery added 39 cents to $58.95 on the New York Merc, while Brent for January added 34 cents to $63.86 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.60 to WTI ($42.42), unchanged. Natural gas for December lost nine cents to $2.81. The TSX energy index added a fraction to close at 190.10.

Alfred Sorensen's Pieridae Energy Ltd. (PEA) rose 26 cents to $3.40 on 128,200 shares, after releasing a resource update for its Bourque project in Quebec. The update shows a best estimate of 827 million barrels of petroleum initially in place (an estimate that does not consider how much is economically recoverable). This is considerably higher than the 2013 mean estimate of 1.04 trillion cubic feet of gas (or 173.5 million barrels of oil equivalent) initially in place. The update incorporates the results of a two-well drilling program conducted in 2016, as well as seismic data collected in 2015.

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