00:56:42 EDT Tue 16 Jul 2019
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Energy Summary for July 9, 2019

2019-07-09 21:03 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added 17 cents to $57.83 on the New York Merc, while Brent for September added five cents to $64.16 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.48 to WTI, up from a discount of $12.88. Natural gas for August added two cents to $2.43. The TSX energy index added 2.07 points to close at 139.63.

Alberta Montney producer Advantage Oil & Gas Corp. (AAV) edged up two cents to $1.60 on 1.76 million shares, after talking up a "solid" second quarter. It stuck heavily to a theme that it has been leaning on since late 2018: liquids production. Although Advantage has long been primarily a dry gas producer, it recently started to devote greater attention to high-margin liquids. In November, 2018, it scrapped its previous three-year plan, which would have seen sizable but gas-weighted production boosts, and unveiled a brand new plan, which will see a slower pace of production but a higher focus on liquids. For context, liquids made up 3 per cent of Advantage's production but 15 per cent of its revenue in 2018; in 2021, Advantage is hoping that liquids will make up 22 per cent of production and 60 per cent of revenue.

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