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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery lost 85 cents to $57.14 on the New York Merc, while Brent for February lost $1.35 to $63.64 (all figures in this para U.S.). Western Canadian Select traded at a discount of $21.45 to WTI ($35.69), unchanged. Natural gas for January lost 15 cents to $2.68. The TSX energy index fell a fraction to 186.99.

Alberta Montney producer Advantage Oil & Gas Ltd. (AAV) rose to an intraday high of $5.28 before closing at $5.16, down one cent, on 8.39 million shares. The company has released its 2018 production and capital expenditure guidance: It plans to produce 255 million to 265 million cubic feet of gas equivalent a day in 2018, up from a range of 230 million to 240 million cubic feet a day in 2017. Notably, it expects to achieve this production increase despite lowering its capital budget to $175-million in 2018 from a range of $225-million to $242-million in 2017. Part of the larger budget in 2017 has gone toward boosting production to nearly 233 million cubic feet a day in the first nine months of 2017 from 203 million cubic feet a day in 2016. Three more items in the company's 2017 budget are the following: First, Advantage has acquired and drilled 26 net sections of land around its core Glacier project, specifically in the Valhalla and Progress areas, and now the company owns 180 net sections (115,200 acres) in the Montney. Second, Advantage has begun construction at its Glacier gas plant to increase capacity to 400 million cubic feet a day by the second quarter of 2018 from 250 million cubic feet a day currently. Third, Advantage has completed 12 wells and drilled another 18 wells, which will all begin production in 2018.

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