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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery gained 44 cents to $57.04 on the New York Merc, while Brent for February gained 87 cents to $63.31 (all figures in this para U.S.). Western Canadian Select traded at a discount of $21.45 to WTI ($35.59), unchanged. Natural gas for January lost three cents to $2.68. The TSX energy index fell 2.66 points to 181.50.

Cenovus Energy Inc. (CVE) lost 66 cents to $11.26 on 11.73 million shares, after releasing its production and capital expenditure guidance for 2018. It is looking to increase production to a range of 483,000 to 510,000 barrels of oil equivalent a day in 2018 from a range of 459,000 to 492,000 barrels a day this year. It also plans to spend between $1.5-billion and $1.7-billion, which is about the same as this year's narrower budget range of $1.55-billion to $1.65-billion. Part of its spending in 2018 will go to an expansion project, which the company estimates will add 50,000 barrels a day to its production by the second half of 2020.

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