PrairieSky Royalty Ltd., the Encana Corp. unit that allows investors to share in oil and natural gas production payments, surged 32 percent in its trading debut, a gain that may spur others to separate operations.
Encana Corp., the Canadian energy producer seeking to boost investor returns by shifting toward crude, is doubling its oil output with a $3.1 billion purchase of shale lands from Freeport-McMoRan Copper & Gold Inc.
Encana Corp. raised C$1.46 billion ($1.34 billion) in Canada’s largest initial public offering in 14 years as higher fuel prices sparked a revival of investor interest in the country’s energy industry.
Encana Corp., Canada’s largest natural gas producer which is seeking to boost investor returns by shifting to oil, said it will sell its Jonah field operations in Wyoming to private-equity fund TPG Capital for $1.8 billion.
BP Plc expects tonight to sink the edges of a 40-foot-tall steel chamber into the mud 5,000 feet (1,524 meters) under the surface of the Gulf of Mexico to capture most of the oil that’s leaking from its Macondo well.