Randy Ollenberger News
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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.
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Cenovus Energy Inc., the Canadian oil producer planning to triple production within a decade, swung to a loss in the fourth quarter after taking a charge on its Suffield assets in southeast Alberta.
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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.
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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.
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Cenovus Energy Inc. had the best risk- adjusted returns among Canadian oil sands producers since it started trading 29 months ago, as the company controlled costs while expanding crude production.
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The cost of oil from Alberta’s tar sands is trading near the cheapest relative to the New York benchmark in 17 months as refineries in the Midwest shut for maintenance and pipeline costs escalate.
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Encana Corp. Chief Executive Officer Randall Eresman resigned yesterday after six years in the role and will be replaced by board member Clayton Woitas until a permanent successor is named.
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Talisman Energy Inc., the oil and natural gas producer that replaced its chief executive officer last month, reported a loss in the third quarter following asset impairments. Shares fell 1.7 percent.
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RBC Capital Markets ranks first for equity research in Canada, ending a 29-year streak for BMO Capital Markets in an annual survey by Brendan Wood International.
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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.
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