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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery lost $1.40 to $51.08 on the New York Merc, while Brent for March lost $1.55 to $53.92 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.50 to WTI ($36.58), down from a discount of $13.60. Natural gas for February lost 11 cents to $3.30. The TSX energy index lost 2.91 points to close at 209.81.

Clay Riddell's Trilogy Energy Corp. (TET) added six cents to $7.09 on 332,000 shares, on top of the five cents it added yesterday after releasing a somewhat underwhelming summary of 2016. The company, which focuses on the Alberta Montney and Duvernay plays, produced 21,800 barrels of oil equivalent a day during 2016, slightly below its full-year guidance of 22,000 barrels a day. Trilogy had waited until August to release that guidance. The waiting seemed to reflect its desire to avoid a repeat of 2015. That year, Trilogy set itself an initial target of 35,000 barrels a day, but then was forced to lower that target multiple times to the eventual level of 28,000 barrels a day, which in the end was not achieved (actual 2015 production was 27,775 barrels a day). Now Trilogy has fallen just shy of its 2016 target as well.

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