03:06:44 EST Fri 13 Dec 2019
Enter Symbol
or Name

Login ID:

Energy Summary for May 30, 2019

2019-05-30 20:32 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 July delivery lost $2.22 to $56.59 on the New York Merc, while Brent for July lost $2.58 to $66.87 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.50 to WTI, up from a discount of $17.30. Natural gas for July lost eight cents to $2.55. The TSX energy index lost 2.13 points to close at 144.12.

Mike Rose's Alberta and B.C. Montney gas producer, Tourmaline Oil Corp. (TOU), lost 32 cents to $17.38 on 1.79 million shares, despite unveiling the latest update to its five-year plan. The company tweaks this plan fairly frequently, although it does not usually make a big song and dance of it. The decision to do so now reflects a sizable increase in forecast free cash flow. Tourmaline is now expecting $3.05-billion in free cash flow over the five years, a 38-per-cent increase over the most recent estimate of $2.21-billion. Worth noting (although Tourmaline did not) is that the estimate prior to that, as of February, 2019, was $2.51-billion, so the increase is just 21 per cent if measured from that starting point -- noteworthy, but not quite as impressive.

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.