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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery lost 59 cents to $78.15 on the New York Merc, while Brent for May lost 76 cents to $82.04 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.60 to WTI, up from a discount of $16.15. Natural gas for April added four cents to $1.96. The TSX energy index added 2.51 points to close at 267.55.

Oil sands giant Cenovus Energy Inc. (CVE) edged up 15 cents to $23.85 on 14.4 million shares, as it wooed shareholders in Toronto. The company held its annual investor day today (with an accompanying webcast), at which president and chief executive officer Jon McKenzie unveiled a five-year plan to boost production to 950,000 barrels a day by 2028, up from the current level of 800,000 barrels a day. He also implied that Cenovus could reach its net debt target of $4-billion later this year and start returning 100 per cent of its free cash flow to shareholders.

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