On September 14, 2009
EnCana Split Good News for Credit-Strapped Businesses
The resurrection of EnCana’s plan to split into two independent energy companies offers some heartening fodder for credit-strapped businesses. It also provides a positive outlook — at least from the company’s head honchos — on natural gas prices. EnCana announced last year intentions to divide the company into two, primarily along its operational lines — natural gas and its oil and refining businesses. The collapse of the financial markets put more than a crimp in EnCana’s plans and by October 2008 the company had delayed its reorganization. EnCana then spent the remainder of 2008 and the first two quarters of 2009 preparing for the eventual split of the companies. EnCana reduced its debt by 19 percent to $8.2 billion since it…
0 Comments