EnCana, Petro-Canada say drop in 2009 costs could loosen up cash

摘要

Vancouver-EnCana and Petro-Canada, two of the top three Canadian-based oil and gas producers, are holding out hope that a drop in 2009 service and materials costs will allow them to loosen their grip on capital spending. Although it is "too early to make any bold capital moves," EnCana CEO Randy Eresman told analysts December 11 he is counting on cost reductions as activity levels decline.