Lanny Pendill News
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Canadian Natural Resources Ltd., the country’s third-largest energy company by market value, is forecast by analysts to rally further after fixing a problem- plagued oil-sands plant.
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A sale is becoming Talisman Energy Inc.’s best bet as analysts turn more bearish on the Canadian oil and gas producer than at any time in almost eight years.
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Canadian Natural Resources Ltd., the nation’s third-largest oil producer by market value, said fourth-quarter profit fell 58 percent as crude prices declined and it reported a foreign-exchange loss.
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Encana Corp. ’s debt is outperforming its shares as fixed-income investors bet the Canadian energy producer’s low costs and hedging program will help it withstand a 27 percent decline in natural gas prices.
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Nexen Inc., the target of the largest overseas bid from a Chinese company, is offering traders the chance to make the most money on any North American deal by betting the $15.1 billion takeover will get Canadian approval.
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The departure of Nexen Inc.’s chief executive officer is leaving the door open for a takeover that may reward shareholders with a $3.3 billion windfall.
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Enbridge Inc., the largest transporter of Canadian crude to the U.S., reported an 88 percent increase in second-quarter profit as it moved more natural gas on its pipeline system.
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Bonds of Canada’s energy companies are outperforming the broader credit market as they trim debt and rising oil prices bolster earnings following last year’s recession.
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Suncor Energy Inc . and Cenovus Energy Inc. are pushing for more oil-sands production, seeking to expand their “attractive” projects as crude prices rise.
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Fortis Inc. led Canadian utilities bonds to their biggest monthly gain since 1998 as the company benefited from regulatory changes that allowed it to pass higher prices onto consumers.
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