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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery lost 47 cents to $52.75 on the New York Merc, while Brent for March lost 26 cents to $55.23 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.00 to WTI ($38.75), up from a discount of $14.50. Natural gas for February added four cents to $3.24. The TSX energy index lost 6.09 points to close at 205.13.

Alberta Montney producer RMP Energy Inc. (RMP) added four cents to 75 cents on 1.64 million shares, after appointing exploration vice-president Jon Grimwood to replace retiring president John Ferguson. The two have known each other for decades. Both of them, along with chairman Craig Stewart and several others at RMP, worked together at Poco Petroleums, which saw its production triple over seven years before it was sold to Burlington Resources for $3.2-billion in 1999. Mr. Grimwood had joined Poco in 1997. He went on to work for Burlington, while Mr. Ferguson and Mr. Stewart turned their focus to Meota Resources, another fast-expanding producer that was sold to Provident Energy Trust in 2002. After that came Rider Resources, where Mr. Grimwood rejoined the group. Rider's production had more than quintupled by the time it was sold to NuVista Energy Ltd. (NVA: $6.54) in 2008. RMP (which takes its name from the initials of Rider, Meota and Poco) says Mr. Grimwood has been "instrumental" in expanding the company's Montney acreage. Now he will be in charge of developing it.

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