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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery lost 68 cents to $65.63 on the New York Merc, while Brent for April lost 72 cents to $70.77 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.10 to WTI, up from a discount of $15.00. Natural gas for March lost seven cents to $2.91. The TSX energy index lost a fraction of a point to close at 364.74.

Grant Fagerheim's Alberta- and Saskatchewan-focused Whitecap Resources Inc. (WCP) lost 17 cents to $13.59 on 13.1 million shares, an oil-price-driven fall cushioned by better-than-expected year-end financials. Fourth quarter production of 379,600 barrels a day and cash flow of 72 cents a share surpassed analysts' predictions of 372,000 barrels a day and 67 cents a share. Year over year, net earnings rose to $307-million from $233-million, although on a per-share basis they shrank to 25 cents a share from 40 cents a share. The changes reflect higher revenues yet higher dilution from the takeover of Veren in May (which doubled the share count to 1.2 billion).

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