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 April delivery lost 59 cents to $69.76 on the New York Merc, while Brent for April lost 86 cents to $73.18, both benchmarks notching a weekly and a monthly decline (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.80 to WTI, up from a discount of $12.00. Natural gas for April lost 10 cents to $3.83. The TSX energy index added a fraction of a point to close at 262.98.

Oil sands producer MEG Energy Corp. (MEG) lost 43 cents to $22.52 on 22 million shares, after releasing its year-end financials. Production of 100,100 barrels a day and cash flow of $1.29 a share were both in line with analysts' predictions. During a conference call this morning, president and chief executive officer Darlene Gates barely paused for breath as she sang MEG's praises, describing 2024 as a year of "operational excellence and disciplined capital allocation, [through which] we were able to improve our safety performance, achieve record production, hit our net debt target, institute a quarterly dividend and sanction our facility expansion project."

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