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Oil merger won’t affect oilsands operations

FORT MCMURRAY, Alta. -- Despite the merger of two Canadian petroleum giants, Alberta Energy and PanCanadian Energy,...


FORT MCMURRAY, Alta. — Despite the merger of two Canadian petroleum giants, Alberta Energy and PanCanadian Energy, the companies insist it will be business as usual in Alberta’s oil patch.

The $27 billion oil and gas merger forms the company EnCana Corp., which will be based out of Calgary, creating Canada’s biggest energy producer. Both companies are active in Northern Alberta’s oilsands where Syncrude Canada and the Christina Lakes oilsands operation will continue to operate.

“That’s not going to change, because we see (the oilsands) as having a role in the future of the new company,” Alberta Energy spokesman Dick Wilson says.

After the deal was announced, EnCana head, Gwyn Morgan, said some initial job losses may be inevitable. But in the long term, officials promise the merger will only benefit those who toil in the oilfields.

“Everywhere you look in the company, there’s going to be new opportunity,” Morgan says.


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