Canada's Largest Natural Gas Company Splits Into Two Smaller Firms

EnCana Corporation, Canada's largest natural gas company, announced Monday it is splitting into two smaller firms. The first would be a fully integrated company and the second a firm dedicated to growing its large unconventional gas assets.

The first company will be known as IntergratedOilCo. Its focus would be EnCana's oilsand assets, refineries in the U.S and a natural gas and oil production base in Alberta and Saskatchewan. EnCana's present chief financial officer Brian Ferguson would head IOCo.

The second firm, to be under the control of Encana chief executive Randy Eresman, would be named GasCo. It will primarily concentrate on building its large Canadian and U.S. unconventional gas resources.

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- Posted: 2008-05-12 08:48:07

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