ARC Resources Ltd., the third- largest oil and gas operator in Canada’s Montney formation, rose after analysts at BMO Capital Markets recommended investors purchase shares of natural gas producers over oil-related stocks.
Suncor Energy Inc., Canada’s largest energy company by market value, reported its first quarterly loss in 3 1/2 years after a charge of C$1.49 billion ($1.5 billion) related to its Voyageur oil project in the province of Alberta, which may face cancellation.
Encana Corp. investors say the resignation of Chief Executive Officer Randall Eresman will revive one of Canada’s worst performing energy stocks by speeding a shift away from natural gas production to more- profitable oil.
Canadian Natural Resources Ltd., the nation’s third-largest oil and natural-gas producer, said quarterly profit declined 57 percent as fossil fuel prices fell. The shares dropped the most in more than four months.