encana stock new name

ssdl.editorialMetaData = { 'Country' : 'US', Thank you for your patience. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. We’re going to continue to invest in that business.”. 'company_sentiment' : 'Neutral', "I think this is a tragedy for Canada," Cenovus Energy. 'Region' : 'United_States', Another foreign company using US laws to push shareholders down while writing down poor investments in both countries. Encana was formed by a 2002 merger between PanCanadian Energy Corp and Alberta Energy Company Ltd, which was created in the 1970s by the government of Alberta as a vehicle for sharing the province’s energy wealth. Shifting the corporate domicile from Canada to the U.S. All comments are subject to editorial review. Encana’s reorganization will require a shareholders vote, slated for early 2020. Off-topic, inappropriate or insulting comments will be removed. Encana’s operations are spread throughout several onshore U.S. and Canada onshore basins. See here for a complete list of exchanges and delays. Full Disclaimer. 'audience' : 'News', “However, our actions show that we will leave no stone unturned to capture the value we deeply believe exists within our equity.”, To contact the author, email mveazey@rigzone.com. Alex Pourbaix, head of Calgary-based oil and gas company Cenovus Energy Inc., called the move a “tragedy for Canada.”, “To see a company of that importance to Canada now exit its head office from the country, I think it’s a tough day for Canada,” Mr. Pourbaix said on Thursday. Authorizing a consolidation and share exchange that would provide shareholders with one share of Ovintiv common stock for every five common shares of Encana. presentation-ready copies of Toronto Star content for distribution The company has drawn criticism for strategic missteps. This report by The Canadian Press was first published Jan. 24, 2020. It split in 2001, producing five companies, including PanCanadian Petroleum Ltd. PanCanadian and the Alberta Energy Co. formed Encana in 2002, and named Mr. Morgan CEO. Encana was created in 2002 through the merger of Alberta Energy Company Ltd., founded in the 1970s by the provincial government, and PanCanadian Energy Corp., the roots of which can be traced back to the construction of the Canadian Pacific railroad. (Reuters) - Encana Corp ECA.TO will shift base from Calgary to the United States and become Ovintiv Inc next year, the oil and gas producer said on Thursday, the latest company to move away from Canada as the nation battles with pipeline capacity shortages. "I think this is a tragedy for Canada," Cenovus Energy CVE.TO CEO Alex Pourbaix told a post-earnings analyst conference. It comes after the departure of foreign oil and gas companies from Canada, with Royal Dutch Shell, ConocoPhillips and Devon Energy Corp. selling their Canadian assets or scaling back investments as a crunch in pipeline space crimps prices. “We believe this change will level the playing field with our principal competitors, most of which are U.S.-based companies,” stated Encana, which also noted in a Thursday conference call the change will not alter its operations or strategy. WESPAC Advisors SoCal LLC Has $730,000 Stake in Anthem, Inc. WESPAC Advisors SoCal LLC Has $444,000 Stock Holdings in iShares U.S. Aerospace & Defense ETF. How Will Offshore GOM Oil Employment Shake Out? By the time Alberta created the Alberta Energy Company in 1973, CPR was a sprawling conglomerate. Before it's here, it's on the Bloomberg Terminal. Along with the change of head office, Encana – once among the country’s largest energy companies – plans to rebrand itself as Ovintiv Inc. Encana had said last year after Mr. Suttles moved to Colorado, citing personal reasons, that it had no plans to leave Calgary. It will update investors on its Oklahoma assets on Wednesday, Ovintiv moved its corporate domicile to Denver from Calgary. If the change gets the green light, shareholders will receive one share of common stock of the new company for every five shares of Encana.

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