Energy shares were mixed in afternoon trading. The S&P/TSX
Energy index was 0.4% despite falling crude oil and
Talisman Energy (TLM.TO): +1.8%
Whitecap Resources (WCP.TO): -1.2%
Surge Energy (SGY.TO): +2.2%
Gran Tierra Energy (GTE.TO): +6.3%
Suncor (SU.TO): -0.1%
Canadian Natural (CNQ.TO): +1.2%
In corporate news, Surge Energy said Thursday that Q4 net loss
was C$2.8 million, or C$0.02 per diluted share, which would have
been better than the Capital IQ consensus of C$0.03 loss per
diluted share, if comparable. Year-earlier net loss was C$68.2
million, or C$0.96 per diluted share. Total sales increased to
C$73.5 million from C$49.4 million.
For 2014, the board of directors has approved a capital budget
of C$116 million, plus an additional C$42 million for the
investment in the Block of Longview shares.
Also, Whitecap Resources reported Q4 net loss of $0.01 per
diluted share compared to a net profit of $0.06 a year earlier. The
company said it is on track to meet its first quarter and annual
production forecasts. To date it has drilled 75 (64.0 net) wells
with nine drilling rigs operating. It expects to drill and complete
an additional 4 (3.9 net) wells for an estimated total of 79 (67.9
net) wells for the quarter with all wells expected to be on
production prior to or during the spring break-up period.
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