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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery added 86 cents to $54.45 on the New York Merc, while Brent for April added 74 cents to $56.58 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.10 to WTI ($40.35), unchanged. Natural gas for March added three cents to $2.62. The TSX energy index added 1.56 points to close at 203.35.

Saskatchewan- and Utah-focused Crescent Point Energy Corp. (CPG) added 23 cents to $15.73 on 7.03 million shares, after releasing its year-end 2016 financials. Production in the fourth quarter averaged 165,097 barrels of oil equivalent a day, in line with analysts' predictions, while cash flow came to 77 cents a share, exceeding analysts' predictions of 75 cents a share. Crescent Point patted itself on the back for its "excellent" results and repeated its guidance for 2017, calling for a budget of $1.45-billion and year-end production of 183,000 barrels a day. The company previously announced this guidance in December. At the time, it emphasized that it would aim to build on its 2016 results, which were also "excellent" (Crescent Point's IR people are nothing if not consistent). Now the company has added a new promotional twist: The planned production increase in 2017, on a per-share basis, will "more than replace the short-term dilution from our September, 2016, equity financing," as president and chief executive officer Scott Saxberg put it (perhaps a touch defensively). This financing saw Crescent Point issue 33.7 million shares at $19.30 for proceeds of $650-million in mid-September. The move surprised and displeased investors, who within days had sent the stock to nearly $16 from over $20.

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