1.7 C
Fort St. John
Tuesday, November 20, 2018
Tel: 250-787-7100
Email: contact@energeticcity.ca
9924 101 ave Fort St. John, B.C.
Advertisement
Advertisement
Advertisement

EnCana splits into two

Energy Giant EnCana is splitting into two companies.

Online newspaper Earth Times reports the board of directors for the EnCana Corporation has unanimously approved plans to disect the company into two independent and distinct companies.  One of them will be a natural gas business, known as the EnCana (GasCo).   The other will be an integrated oil company, known as Cenovus Energy Inc.  Both will be based in Calgary, Alberta.

The idea of a schism was first proposed in May of 2008, and will reportedly enhance long-term profits for shareholders, by creating two distinct companies, each more well-suited to its individual role.

The deal is expected to be finalized by the end of November, and existing shareholders will retain their EnCana shares, and also receive one Cenovus Energy share for every common share they hold.

A news conference is scheduled for 11 a.m. (MST) Friday in Calgary to further discuss the announcement.

For more on this story, visit http://www.earthtimes.org/articles/show/encana-proceeds-with-plan-to,956647.shtml

Advertisement
Advertisement
Advertisement
Advertisement

Warning: array_merge(): Argument #2 is not an array in /home/energet6/public_html/wp-includes/widgets/class-wp-widget-custom-html.php on line 127

Warning: array_merge(): Argument #1 is not an array in /home/energet6/public_html/wp-includes/widgets/class-wp-widget-custom-html.php on line 134

Local Events

Doc Walker to play the Lido Theatre

HYPNOTIST: RAY ANDERSON

Jokes N Tokes Comedy Tour

Advertisement
Advertisement
Advertisement

Must Read

Fire breaks out at Fort Nelson Automotive shop and Building Supply...

FORT NELSON, B.C. - A large fire broke out early Tuesday morning in Fort Nelson. According to eye-witnesses, the fire has affected ED's Ace Building...