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by Stockwatch Business Reporter
West Texas Intermediate crude for May delivery lost 49 cents to $63.40 on the New York Merc, while Brent for June lost 37 cents to $71.18 (all figures in this para U.S.). Western Canadian Select traded at a discount of $8.47 to WTI, down from a discount of $8.41. Natural gas for May lost seven cents to $2.59. The TSX energy index lost a fraction to close at 163.21.
Wayne Foo's Colombian oil producer, Parex Resources Inc. (PXT), added 30 cents to $21.98 on 1.09 million shares, after pegging its production for the first quarter of 2019 at 51,200 barrels of oil equivalent a day. This marked its first time with quarterly output above 50,000 barrels a day. In the fourth quarter of 2018, Parex produced 49,300 barrels a day, but it told investors last month that it was aiming to produce at least 51,000 in the first quarter. Today it declared that goal achieved. It added that the first quarter of 2019 represents its 27th quarter of rising production.
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