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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery added 67 cents to $64.63 on the New York Merc, while Brent for April added 60 cents to $69.40 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.50 to WTI, down from a discount of $15.30. Natural gas for March added four cents to $3.15. The TSX energy index added 10.58 points to close at 355.90.

Terry Anderson's Montney-focused ARC Resources Ltd. (ARX) added 69 cents to $24.20 on 12 million shares, as a well-priced debt financing helped it continue to bounce off the two-year low it hit on Friday. The investment-grade-rated ARC plans to raise $950-million by selling $400-million of three-year notes at 3.349 per cent and $550-million of seven-year notes at 4.104 per cent. (For context, that three-year coupon is nearly as favourable as the 3.30-per-cent one that the larger, even better-rated Canadian Natural Resources Ltd. (CNQ: $55.17) stuck on its three-year notes two months ago.) ARC will use the proceeds to redeem a separate $450-million batch of notes maturing next month, as well as to repay a $500-million two-year term loan ahead of its due date next year.

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