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by Stockwatch Business Reporter
West Texas Intermediate crude for May delivery gained 56 cents to $64.94 on the New York Merc, while Brent for May gained 74 cents to $70.27 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.40 to WTI ($41.54), unchanged. Natural gas for May gained four cents to $2.73. The TSX energy index gained 4.18 points to 177.38.
Many oil and gas producers ended the day up. Cenovus Energy Inc. (CVE) gained 42 cents to $10.97 on 7.32 million shares, WhitecapResources Inc. (WCP) gained 15 cents to $7.88 on 4.27 million shares and Baytex Energy Corp. (BTE) gained 11 cents to $3.53 on 4.52 million shares.
Steve Moran's New Brunswick gas producer, Corridor Resources Inc. (CDH), closed up one cent to 70 cents on 278,400 shares after releasing its full-year results. It produced 2.5 million cubic feet a day (or 412 barrels of oil equivalent a day) in 2017, less than half of the 5.8 million cubic feet a day that it produced in 2016. The company has one producing field, McCully, where it shut in most of its wells last year because of low gas prices. Nevertheless, it managed to sell its gas for an average of $8.08 per thousand cubic feet, mostly in Boston. This price is higher than in Alberta, where the benchmark AECO price averaged $2.25 per thousand cubic feet last year.
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