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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost 48 cents to $63.57 on the New York Merc, while Brent for November lost 51 cents to $67.44 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.00 to WTI, unchanged. Natural gas for October lost 16 cents to $2.93. The TSX energy index lost a fraction of a point to close at 289.84.

Brian Schmidt's Tamarack Valley Energy Ltd. (TVE) lost nine cents to $6.02 on 5.27 million shares, giving back a bit of the 38 cents that it added over the previous two days -- a gain that likely reflected some early hints of the news that it released this morning. The company is selling its remaining non-core assets in order to become a pure-play Alberta Clearwater and Charlie Lake producer. The buyer, an undisclosed private company, will pay $112-million.

The assets are in the Veteran-Consort (Viking) and Eyehill (Sparky) areas of Alberta and are producing about 4,000 barrels a day. A decade or so ago, assets such as these could easily fetch over $45,000 per flowing barrel of production -- Tamarack itself nabbed a good chunk of Veteran-Consort by buying Spur Resources in 2016 for an even higher price, the equivalent of $65,000 per barrel -- but they are less in favour these days. Today's price tag of $112-million works out to $28,000 per barrel.

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