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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery gained 23 cents to $61.19 on the New York Merc, while Brent for May gained 23 cents to $65.12 (all figures in this para U.S.). Western Canadian Select traded at a discount of $25.55 to WTI ($35.64), unchanged. Natural gas for April lost five cents to $2.68. The TSX energy index gained a fraction to 170.96.

More oil and gas producers rose than fell. Cenovus Energy Inc. (CVE) gained 13 cents to $10.58 on 5.38 million shares, Crescent Point Energy Corp. (CPG) gained nine cents to $8.72 on 3.72 million shares and EnCana Corp. (ECA) lost 28 cents to $14.12 on 4.71 million shares.

Rick McHardy's Saskatchewan-focused Spartan Energy Corp. (SPE) gained 34 cents to $5.71 on 3.25 million shares after releasing its fourth quarter and full-year results. Its financial results met analysts' predictions. As for its operational results, those were already released three weeks ago, but perhaps investors appreciated the reminder that Spartan produced 22,200 barrels of oil equivalent a day (88 per cent oil) in 2017, nearly double the 11,750 barrels a day that it produced in 2016. Much of the increase is attributable to an asset acquisition that closed in December, 2016. Under that deal, Spartan acquired 7,500 barrels a day of production in southeast Saskatchewan from ARC Resources Ltd. (ARX: $12.71) for $691.5-million cash. Having exited Saskatchewan, ARC's core assets are now in the B.C./Alberta Montney and the Alberta Cardium. ARC Resources produced 122,900 barrels of oil equivalent a day in 2017.

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