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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery added $1.04 to $71.95 on the New York Merc, while Brent for November added $1.23 to $74.88 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.60 to WTI, down from a discount of $14.50. Natural gas for October added six cents to $2.34. The TSX energy index added 5.01 points to close at 267.24.

Grant Fagerheim's Alberta- and Saskatchewan-focused Whitecap Resources Inc. (WCP) added 12 cents to $10.45 on 4.73 million shares, as it showed off a shiny new investment-grade credit rating. The accolade came from DBRS, which this morning assigned Whitecap a rating of BBB (low) -- just one rung up on the investment-grade ladder, but one is enough -- with a trend of "stable." It said the rating is a testament to Whitecap's "operational and development accomplishments during the past year."

Whitecap wasted no time trotting out both the rating and summary of accomplishments. "Whitecap has had excellent operational success in the first half of 2024, and the outperformance continues in the third quarter," cheered president and chief executive officer Mr. Fagerheim. The talk of outperformance echoed comments that Mr. Fagerheim made in April, when he used that word repeatedly (six times in one press release) while announcing a 2,000-barrel-a-day increase to Whitecap's production guidance. Alas for hopeful investors, he did not announce an increase this time, but he did predict an outcome "close to the high end" of the unchanged guidance of 167,000 to 172,000 barrels a day.

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