21:35:02 EST Thu 05 Dec 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Energy Summary for Dec. 2, 2019

2019-12-02 20:23 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery added 79 cents to $55.96 on the New York Merc, while Brent for February lost $1.51 to $60.92 (all figures in this para U.S.). Western Canadian Select traded at a discount of $20.56 to WTI, down from a discount of $19.65. Natural gas for January added five cents to $2.33. The TSX energy index lost 1.02 points to close at 130.40.

Li Ka-shing's Husky Energy Inc. (HSE) lost nine cents to $9.58 on 12.9 million shares, after slashing its near-term spending plans and confirming hundreds of layoffs. It did not phrase it exactly like that, of course; president and chief executive officer Rob Peabody spoke pleasantly of how the revised plans would "build upon our improved 2019 performance" and "set the stage for significant free cash flow growth." This is nonetheless the second time this year that Husky has had to rein in its spending. The company is now expecting to spend $500-million less in 2020/2021 than was suggested in the five-year plan that it outlined at its investor day in May. At that same investor day, the company separately announced a total of $1.7-billion in planned reductions from 2019 to 2023.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2019 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.