Wednesday, March 17, 2010

Encana acknowldges royalty scam and suggests on par with other provinces.

Alberta would have received a bigger chunk of EnCana Corp.' s 2010 budget if it harmonized royalties with British Columbia, CEO Randy Eresman said Tuesday.

And Canada would gain even more if its royalty policies were harmonized with the United States, he added, speaking at the company's investor day presentation -- the first since splitting with Cenovus Energy late last year.
Although Eresman said he's generally pleased with the Alberta government's royalty overhaul, he said the province still lags B.C. and states such as Texas in terms of its competitiveness.
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