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 December delivery lost $1.16 to $60.15 on the New York Merc, while Brent for December lost $1.22 to $64.40 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.60 to WTI, up from a discount of $12.70. Natural gas for November lost nine cents to $3.34. The TSX energy index lost 3.11 points to close at 286.37.

A bright spot in an otherwise gloomy day in the Canadian energy markets was Pat Carlson's Alberta Montney- and Duvernay-focused Kiwetinohk Energy Corp. (KEC) ("key-wheat-in-no"), up $2.22 to $24.64 on 1.09 million shares. It has accepted a $24.75-a-share takeover offer from David Maddison's private Cygnet Energy. The two of them have a common backer in ARC Financial. ARC and Luminus Energy collectively hold three-quarters of Kiwetinohk's shares and will vote them in favour of the deal at a shareholder meeting in mid-December, with closing to follow by year-end.

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