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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery gained 96 cents to $58.36 on the New York Merc, while Brent for February gained 16 cents to $63.73 (all figures in this para U.S.). Western Canadian Select traded at a discount of $17.65 to WTI ($40.71), unchanged. Natural gas for January gained four cents to $3.06. The TSX energy index added 2.01 points to close at 192.21.

Athabasca oil producer MEG Energy Corp. (MEG) closed up four cents to $5.50 on 6.82 million shares after releasing its guidance for 2018. It plans to increase production to a range of 85,000 to 88,000 barrels a day in 2018 from a range of 80,000 to 82,000 barrels a day this year. As well, it expects to accomplish this production increase with the same full-year capital budget of $510-million. The company pats itself on the back for its fine efficiency in managing its operations and costs. In an update on its website today, MEG estimates its year-to-date net operating costs at $7.26 a barrel. Long-term shareholders will recall that this figure was above $10 from the time MEG listed in 2010 to the first quarter of 2015.

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