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An Encana pump jack stands near Rockyford, Alta., in this June 30, 2009 file photo.
An Encana pump jack stands near Rockyford, Alta., in this June 30, 2009 file photo.
(TODD KOROL/REUTERS)

Canadian energy sector back in spotlight as U.S. investors shop for bargains

U.S. investors are starting to look at opportunities in the Canadian energy sector again, and that could mean looser taps on capital in 2014 following a weak year in financing, BMO Nesbitt Burns Inc.’s top energy banker said.

U.S. investment dollars exited the industry in a big way in 2013 due to concerns about such factors as the deep discount on Canadian heavy crude versus U.S. light oil, uncertainty over opposition among First Nations to pipeline proposals and the summer’s unusually wide price spread between Alberta and U.S. natural gas prices, said Shane Fildes, managing director and global head of energy at BMO.