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Energy Summary for Jan. 14, 2020

2020-01-14 19:49 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery added 15 cents to $58.23 on the New York Merc, while Brent for March added 29 cents to $64.49 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.00 to WTI, down from a discount of $22.91. Natural gas for February added one cent to $2.19. The TSX energy index added a fraction to close at 145.99.

U.S.-focused shale producer EnCana Corp. (ECA) lost 14 cents to $5.54 on 19.5 million shares. At a special meeting this morning, the company received shareholder approval to move its headquarters to Denver from Calgary, change its name to Ovintiv Inc. and roll back 1 for 5. The vote was about 90 per cent in favour. President and chief executive officer Doug Suttles cheered the decisive outcome, declaring himself "extremely pleased with the vote of confidence" in the board, which continues to work toward "capturing the value we know exists within our equity."

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