This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery added 25 cents to $53.36 on the New York Merc, while Brent for April lost 10 cents to $55.65 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.65 to WTI ($38.71), up from a discount of $14.80. Natural gas for March lost seven cents to $2.85. The TSX energy index lost a fraction to close at 206.14.

The oil patch was agog as the Alberta Energy Regulator (AER) took the rare step of publicly rebuking a wayward producer, the private Lexin Resources Ltd., and ordering Lexin to halt all production. "The AER has very little confidence in Lexin's ability to conduct their operations safely," was the blunt assessment of Mark Taylor, the AER's vice-president of closure and liability, speaking to the media about the suspension. The order is unusual because of Lexin's large size. The company has 1,380 wells, 81 facilities and 201 pipelines, all of which have now been suspended.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS