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by Stockwatch Business Reporter
West Texas Intermediate crude for April delivery gained $1.15 to $62.34 on the New York Merc, while Brent for May gained $1.09 to $66.21 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.25 to WTI ($39.09), narrowing from a discount of $25.55. Natural gas for April gained one cent to $2.69. The TSX energy index gained 3.97 points to 174.93.
Many oil and gas producers closed up today. Among them were companies that releasednews earlier in the week but were largely ignored; they likely appreciated the positive attention today. One such company, Surge Energy Inc. (SGY), gained nine cents to $1.92 on 1.65 million shares, adding to the two cents that it gained yesterday following the release of its full-year financials. Surge produced 14,922barrels of oil equivalent a day in 2017, slightly higher than its previously estimated 14,450 barrels a day. Its core assets are its Sparky and Valhalla Doig plays, both in Alberta, and its Shaunavon play in Saskatchewan. This year, the company aims to boost production to 16,150 barrels a day. It plans to give special attention to the Sparky, where it has more than doubled production to 6,000 barrels a day in the last 18 months.
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