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 March delivery lost 35 cents to $65.45 on the New York Merc, while Brent for April lost $1.07 to $68.58 (all figures in this para U.S.). Western Canadian Select traded at a discount of $27.70 to WTI ($37.75), unchanged. Natural gas for March lost one cent to $2.85. The TSX energy index lost 4.56 points to 180.93.
Alberta producer Obsidian Energy Ltd. (OBE) closed unchanged at $1.26 on 2.13 million shares. Earlier this week, it completed the sale of non-core assets comprising 2,200 barrels of oil equivalent a day (75 per cent gas). In exchange, the unnamed buyer will take $25-million worth of decommissioning liabilities off Obsidian's hands. In a research note published yesterday, Scotia Capital analyst Patrick Bryden patted the company on the back for the sale. He noted that the sold assets required high operating costs ($25 per barrel of oil equivalent, compared with about $13.50 a barrel at Obsidian's remaining assets). Mr. Bryden left his price target at $2 and maintained his rating of "sector perform."
The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
© 2018 Canjex Publishing Ltd. All rights reserved.
Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted.Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.