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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery added $1.00 to $73.32 on the New York Merc, while Brent for April added $1.13 to $77.00 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.40 to WTI, up from a discount of $13.70. Natural gas for March added seven cents to $3.51. The TSX energy index added 3.66 points to close at 278.09.

PrairieSky Royalty Ltd. (PSK) added 43 cents to $27.78 on 850,100 shares, after releasing its year-end financials. Fourth quarter royalty production of 25,000 barrels of oil equivalent a day and cash flow of 41 cents a share were both in line with analysts' predictions. PrairieSky is not a direct oil and gas producer, but it collects royalties from oil and gas producers across Western Canada, providing a useful gauge of industry activity. Activity was evidently solid enough to support another dividend boost: PrairieSky, which previously increased its quarterly dividend to 25 cents (from 24 cents) with last year's fourth quarter financials, is now nudging it up another penny to 26 cents (for a yield of 3.7 per cent).

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