Bloomberg reported that the recent resignation of Encana’s CEO Randall Eresman, could breathe new life into the struggling company, by streamlining focus away from natural gas production towards oil.
As quoted in the market report:
The departure of Eresman, announced on Jan. 11, will spark a focus on liquid petroleum products after Eresman spun off Encana’s oil unit in 2009 just as natural gas prices plunged, said John Stephenson, who helps manage C$2.7 billion ($2.74 billion) at First Asset Investment Management Inc. in Toronto.
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