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 June delivery added 60 cents to $79.23 on the New York Merc, while Brent for July added 52 cents to $83.27 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.30 to WTI, down from a discount of $13.80. Natural gas for June added eight cents to $2.50, its first time at this threshold in nearly five months. The TSX energy index lost a fraction of a point to close at 292.94.

Jeff Tonken's Alberta Montney gas producer, Birchcliff Energy Ltd. (BIR), reached an intraday low of $5.65, before reversing course and settling up 15 cents to $6.02 on 2.96 million shares. The bumpy action mirrored rocky first quarter financials. Given the plunge in gas prices, as well as Birchcliff's aversion to hedges -- its former chief executive officer, the above Mr. Tonken, once memorably told BNN that "the road to hell is paved with hedges" -- it was no surprise that the quarter was a rough one. Birchcliff previously set the tone in January by halving its dividend. The new financials showed an overall net loss for the quarter of $15-million.

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