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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added $1.09 to $57.34 on the New York Merc, while Brent for September added $1.42 to $63.82 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.20 to WTI, up from a discount of $13.30. Natural gas for August added five cents to $2.29. The TSX energy index added a fraction to close at 138.13.

South American oil producer Frontera Energy Corp. (FEC) edged up 17 cents to $13.72 on 215,400 shares, after releasing a mixed operational update for the second quarter. On the plus side, quarterly production averaged 74,285 barrels of oil equivalent a day, above Frontera's full-year guidance of 65,000 to 70,000 barrels a day and well above the first quarter average of 67,974 barrels a day. The increase over the first quarter reflects the resumption of production from block 192 in Peru. Frontera had to suspend this block in December because local vandals sabotaged the NorPeruano pipeline. Although the attack was over 200 kilometres from block 192, the damage to the pipeline prevented it from carrying any of the block's output until months of repairs were carried out. Production from block 192 started to resume in March, and by May the block was back to normal, contributing around 10,000 barrels a day to Frontera's total production (most of which comes from Colombia).

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