Wall Street eyeing Canadian oil sands amid U.S. shale disillusionment [Toronto Globe and Mail (Ontario, Canada)]
Cenovus Energy Inc (CVE)
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Source: Toronto Globe and Mail
Wall Street eyeing Canadian oil sands amid U.S. shale disillusionment Disillusionment over the U.S. shale oil boom is leading Wall Street to reconsider an alternative that was largely abandoned by American energy investors – the Canadian oil sands. After years of pursuing growth at virtually any cost, U.S. frackers, which use horizontal drilling techniques to tap shale deposits unavailable through conventional drilling, have seen investors lose patience in recent months over excessive drilling, well performance issues and a lack of profits. With many investors now demanding U.S. shale companies prioritize free cash flow and returning money to shareholders, suddenly Canadian producers don’t look half bad by comparison, said Dane Gregoris, senior vice-president of capital markets at RS Energy Group in Calgary. Story continues below advertisement “Oil sands producers are ahead of the game [regarding] this slow-growth mantra that’s now affecting U.S. shale.” Analysts at Goldman Sachs rece
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- Cenovus to hold first-quarter conference call and webcast, virtual annual meeting of shareholders on May 1GlobeNewswire
- Here's Why Cenovus Energy (CVE) is a Strong Momentum Stock [Yahoo! Finance]Yahoo! Finance
- Canadian Natural: Resilience And Returns Through The Cycle [Seeking Alpha]Seeking Alpha
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