EnCana Corp, Canada’s biggest energy company, declared its second-quarter profit slipped 80 percent as oil and gas prices sank, but operating results beat expectations on a strong showing from its oil sands division. For full story, click here
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market and international news Falling natural gas prices are a boon to oil sands operators, so if prices remain low in the upcoming months, Q3 results should improve, especially for refiners. A common theme in the Q2 results released a couple weeks ago was the bite [...]
Peters & Co. analyst Kam Sandhar was quoted as saying: EnCana Corp. continues to move forward aggressively with its oil sands expansion plans, and its new, yet-to-be-named integrated oil spinoff will be the primary driver behind the company’s growth over the next decade. For full story, click here For Encana’s website, click here
SOME CHEER ON THE OIL FRONT By Duncan Sutherland – Exclusive to Heavy Oil Investing News A good quarter for heavy oil companies Heavy oil and oil sands companies, by and large, posted positive results in the just-ended quarter. This was to be expected, what with oil prices hitting an all-time high. It is worth noting, however, that energy costs took a [...]
Encana’s Western Canadian Select heavy oil averaged $102.18, compared with $45.84 in 2007. For full news, click here
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