09:04:55 EDT Fri 23 Aug 2019
Enter Symbol
or Name

Login ID:
Oil Summary
Symbol C : *MKTOIL
Recent Sedar Documents

Energy Summary for Jan. 16, 2019

2019-01-16 20:35 ET - Market Summary

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 February delivery added 20 cents to $52.31 on the New York Merc, while Brent for March added 68 cents to $61.32 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.47 to WTI, up from a discount of $9.55. Natural gas for February lost 12 cents to $3.38. The TSX energy index lost a fraction to close at 151.47.

Mike Rose's B.C. and Alberta gas producer, Tourmaline Oil Corp. (TOU) added 50 cents to $18.55 on 2.86 million shares, after reducing its 2019 budget but keeping its production guidance intact. Tourmaline now plans to spend about $1.22-billion, down from the $1.3-billion that it announced in early November. The decrease reflects lower well costs and a reduction in the number of planned delineation wells. These moves are not expected to affect Tourmaline's 2019 production target, which remains 300,000 barrels of oil equivalent a day. (About four-fifths of that will be gas. Despite its "Oil"-y name, Tourmaline is one of Canada's largest gas producers.) If necessary, said Tourmaline, it could trim another $30-million to $50-million from its budget without affecting its 2019 production, although this would likely affect its production in 2020. The current informal production target for 2020, according to the five-year plan on Tourmaline's website, is 322,000 barrels a day.

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

© 2019 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.