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Rookie CEO Doug Suttles unveiled a new strategy last November to rebuild the company’s portfolio of oil and liquids-rich assets and reduce its exposure to natural gas.
Rookie CEO Doug Suttles unveiled a new strategy last November to rebuild the company’s portfolio of oil and liquids-rich assets and reduce its exposure to natural gas.
(Todd Korol For The Globe and Mail)

Encana buys a quick fix, not a permanent one

Encana Corp.’s $3.1-billion (U.S.) shale-oil acquisition shows it’s serious about diversifying – sort of. What it is serious about is finding assets that can turn around its profit picture, fast. Yet it seems less committed to moving away from shale plays, despite the expensive lessons that they have already taught the company.