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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost $1.93 to $63.01 on the New York Merc, while Brent for June lost $1.70 to $67.64 (all figures in this para U.S.). Western Canadian Select futures did not trade, as the Chicago Merc was closed for Easter Monday. Natural gas for May lost five cents to $2.68. The TSX energy index lost 3.83 points to 173.55.

Many oil and gas producers closed down. Cenovus Energy Inc. (CVE) lost 16 cents to $10.81 on 6.9 million shares, Crescent Point Energy Corp. (CPG) lost 20 cents to $8.56 on 4.82 million shares and Baytex Energy Corp. (BTE) lost 10 cents to $3.43 on 4.13 million shares.

EnCana Corp. (ECA) fell 59 cents to $13.58 on 6.46 million shares. It has decided to sell its Pipestone facility project in the Alberta Montney for $39-million to Keyera Corp. (KEY), which today gained 19 cents to $33.70 on 869,200 shares. Keyera will finance the estimated $105-million cost of developing the facility. It will own the facility, though EnCana will still be the one to design and initially operate the facility in exchange for an unspecified fee for these designing and operating services. EnCana has a similar fee-for-service deal with Pembina Pipeline Corp. (PPL: $39.22) for three processing facilities on the B.C. side of the Montney. Those three facilities started up in the fourth quarter of 2017 and are providing EnCana with the capacity to process 29,000 barrels a day of condensate and other natural gas liquids. For context, EnCana produced 19,100 barrels of condensate and other NGLs in the Montney in the full year 2017. It is hoping to boost this figure to a range of 55,000 to 65,000 barrels a day by the fourth quarter of 2018, which is when the Pipestone facility will come on-line.

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