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by Stockwatch Business Reporter
West Texas Intermediate crude for May delivery lost 87 cents to $64.38 on the New York Merc, while Brent for May lost 58 cents to $69.53 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.40 to WTI ($40.98), unchanged. Natural gas for May gained one cent to $2.70. The TSX energy index lost 2.66 points to 173.20.
Among the busiest oil and gas stocks today were EnCana Corp. (ECA), which lost 75 cents to $13.58 on 11.14 million shares, and Crescent Point Energy Corp. (CPG), which lost 53 cents to $8.55 on 14.23 million shares. Crescent Point's 11 largest trades were crosses by RBC Capital Markets, CIBC World Markets, GMP Securities and TD Securities, totalling 2.3 million shares, at prices ranging from $8.47 to $8.73.
Colombia- and Peru-focused Frontera Energy Corp. (FEC) reached an intraday low of $33.16 before closing at $35.85, down 99 cents, on 74,500 shares. It has released its full-year financials and a reserves update, which shows a decline in its proved plus probable (2P) reserves, and it has disclosed a plan to split its shares 2 for 1. The split will double its share count to 100 million. Frontera will hold a shareholders meeting on May 31 to seek approval for the split.
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