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Energy Summary for May 16, 2017

2017-05-16 20:27 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost 19 cents to $48.66 on the New York Merc, while Brent for July lost 17 cents to $51.65 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.75 to WTI ($38.91), unchanged. Natural gas for June lost 12 cents to $3.23. The TSX energy index lost 2.66 points to close at 197.13.

Whitecap Resources Inc. (WCP) lost 14 cents to $9.70 on 1.66 million shares. It has firmed up its previously announced plans to buy back some of its shares, and has made an intriguing addition to its board of directors. The new director is Heather Culbert, a retired former executive of what is now Enerplus Corp. (ERF: $10.97). She joined Enerplus in 1996 and went on to serve as its senior vice-president of corporate services from 2001 to 2006, when she retired. Before Enerplus she had her own management consulting company, and before that she worked for Suncor Energy Inc. (SU: $43.43) and other energy companies. She has stayed busy since retirement, joining the boards of (among others) the United Way, the Alberta Cancer Foundation and Export Development Canada.

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