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by Stockwatch Business Reporter
West Texas Intermediate crude for April delivery lost $1.42 to $55.80 on the New York Merc, while Brent for May lost 96 cents to $65.07 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.75 to WTI, up from a discount of $11.90. Natural gas for April added five cents to $2.86. The TSX energy index added 1.32 points to close at 158.87.
Grant Fagerheim's Saskatchewan- and Alberta-focused Whitecap Resources Inc. (WCP) lost 21 cents to $4.61 on 19.1 million shares, on top of the 15 cents it lost yesterday after releasing its year-end 2018 financials. They were largely in line with analysts' predictions. Full-year production averaged 74,415 barrels of oil equivalent a day, within Whitecap's guidance of 74,000 to 75,000 barrels a day. The fourth quarter saw a slight drop in production to 73,185 barrels a day. During a conference call yesterday, Whitecap's president and chief executive officer, Mr. Fagerheim, blamed the drop on some minor gas production shut-ins, as well as the decision to bring an early halt to 2018 drilling activity in the Saskatchewan Viking because of volatile oil prices.
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