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Energy Summary for Aug. 25, 2022

2022-08-25 20:42 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost $2.37 to $92.52 on the New York Merc, while Brent for October lost $1.88 to $99.34 (all figures in this para U.S.). Western Canadian Select traded at a discount of $20.00 to WTI, down from a discount of $19.70. Natural gas for September added five cents to $9.38. The TSX energy index added 1.54 points to close at 248.72.

It was another day, another expansion announcement in the Montney. Dealmakers in the Montney over the last few months include Vermilion Energy Inc. (VET: $37.75) (which bought Leucrotta Exploration in May), Whitecap Resources Inc. (WCP: $9.69) (which proposed a Montney asset acquisition from Imperial Oil Ltd. (IMO: $9.69) in June) and the private Canbriam Energy (which proposed a Montney asset acquisition from Crew Energy Inc. (CR: $6.78) just last week). Now Pat Carlson's Kiwetinohk Energy Corp. (KEC), up 51 cents to $15.48 on 35,800 shares, is adding itself to the list.

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