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Energy Summary for Feb. 11, 2020

2020-02-11 19:50 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery added 37 cents to $49.94 on the New York Merc, while Brent for April added 74 cents to $54.01 (all figures in this para U.S.). Western Canadian Select traded at a discount of $18.31 to WTI, up from a discount of $18.46. Natural gas for March added two cents to $1.79. The TSX energy index added a fraction to close at 130.15.

Alberta Montney producer Seven Generations Energy Ltd. (VII) lost 17 cents to $6.65 on 3.12 million shares, on top of the three cents it lost yesterday despite trumpeting a "new standard achieved in responsible and transparent energy development." What this means is that the company has signed a gas supply agreement, but with the added novelty of entering the deal under the EO100 Standard for Responsible Energy. EO stands for Equitable Origin, the independent New York-based non-profit that invented the standard in 2012. Although Equitable Origin has been granting EO100 certifications to individual project sites since 2014, Seven Generations is the first Canadian gas producer to be certified, and its new supply agreement represents "the first transaction executed under the EO100 framework."

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