Alberta’s Kenney takes aim at Encana for plans to relocate [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
Alberta’s Kenney takes aim at Encana for plans to relocate Alberta’s premier says he’s disappointed by Encana Corp.’s decision to redomicile in the United States, and that he didn’t mind seeing investors punish the company for its move. “We’ll let shareholders make the final decision, but I was disappointed,” Jason Kenney told BNN Bloomberg’s Greg Bonnell from Houston, Texas. “This is a company that was built on Canadian workers, Canadian assets, Canadian leadership in the past. And the truth is they were overextended on the natural gas side of things, obviously, before prices crashed – and they’ve suffered the results of that.” “I was not disappointed to see that Encana’s share price dropped … after they announced that they were registering in Delaware,” he added. Kenney’s comments come after one of Encana’s largest shareholders spoke out against the oil-and-gas company’s plan to relocate south of the border. Letko, Brosseau & Associates Inc. said earlier this week the move is “highl
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