JWN Energy Group’s Daily Oil Bulletin
11 November 2019
The Canadian flag is flying at half-mast in Calgary with Encana Corporation’s Oct. 31 announcement that it is planning to domicile in the U.S. and change its name to Ovintiv Inc. The Canadian oil and gas industry has been pummeled since crude oil prices crashed in the second half of 2014 and the Trudeau and Notley majority governments were elected into office in 2015. But Encana’s decision appears to be the proverbial straw that broke the camel’s back. Fortunately, it is always darkest before the dawn. Encana’s corporate move and name change could in fact serve as a wake-up call for the new Trudeau government.