06:55:18 EDT Thu 25 Apr 2024
Enter Symbol
or Name

Login ID:

Energy Summary for Feb. 20, 2024

2024-02-20 19:45 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 March delivery lost $1.01 to $78.18 on the New York Merc, while Brent for April lost $1.22 to $82.34 (all figures in this para U.S.). Western Canadian Select traded at a discount of $18.70 to WTI, up from a discount of $19.25. Natural gas for March lost three cents to $1.58. The TSX energy index lost 1.55 points to close at 246.66.

Oil prices drifted lower on concerns of slowing global demand amid a longer period of high interest rates. In the oil patch, investors prepared for a shortened but earnings-packed week. Producers set to release their year-end financials in the coming days include Suncor Energy Inc. (SU: $44.12), Enerplus Inc. (ERF: $21.85), Obsidian Energy Inc. (OBE: $9.21) and Whitecap Resources Inc. (WCP: $8.97). For some, the wait is over.

Kicking off the week with its financials was Gary Guidry's Colombia-focused Gran Tierra Energy Inc. (GTE), down 17 cents to $6.97 on 196,300 shares. Investors were disappointed. For the year, Gran Tierra swung to a net loss of $6.2-million (U.S.), compared with its 2022 profit of $139-million (U.S.). Meanwhile, net debt climbed to $511-million (U.S.) as of Dec. 31 from $453-million (U.S.) a year earlier -- and that does not include a $100-million (U.S.) bond offering that closed earlier this month.

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

© 2024 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.