Don't display this message again [x]

Dear User,

On March 28, 2015 OilCareers and Rigzone will be coming together to provide you with access to the world’s largest resource for Oil and Gas news, jobs and industry insights.

We have recently updated our Terms & Conditions to accommodate these changes. Please read them carefully. By using the Site, you agree to be bound by these terms and conditions. These Terms and Conditions are effective as of March 30, 2015.

Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Encana Opens Higher; CEO Eresman Steps Down

change text size

TORONTO - Encana Corp. opened up 2.1% Monday after its long-time president and chief executive, Randall Eresman, said Friday that he was retiring.

The stock has since slipped and was recently up 1.1% to C$19.72 in Toronto Stock Exchange trading.

The executive's departure comes after a rough patch for Encana, one of Canada's biggest energy players and a major North American natural-gas producers. The company focused on natural-gas exploration and production just as an explosion of drilling across the continent sent prices of the commodity lower. More recently, it has undertaken a major asset-sale program and turned toward exploring and developing more oil plays and developments heavy in natural-gas liquids.

Eresman said in a statement Friday that "now is the right time" for him to retire, noting the company is "well positioned to execute on its plans to rapidly transition to a more balanced commodity portfolio."

Encana director Clayton Woitas will act as interim president and chief executive.

Copyright (c) 2012 Dow Jones & Company, Inc.

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Most Popular Articles
From the Career Center
Jobs that may interest you
Refinery Capital Project Manager
Expertise: Project Management|Refinery / Plant Operations Supervisor
Location: Houston, TX
 
Engineering Manager
Expertise: Engineering Manager
Location: Marinette, WI
 
Project Manager
Expertise: Project Engineer|Project Management
Location: Denver, Colorado
 
search for more jobs