November 07, 2019
“This is just more bad news in the story we’ve been living and breathing in Calgary over the past several years and is reflective of the bigger picture in the Canadian oil and gas industry,” Stephanie told the Globe.
Discussing the emerging trend of oil and gas investments shifting away from Canada, Stephanie highlighted that negative investor sentiment has meant almost no capital has been raised in recent years, translating into less work for legal and financial advisers.
Stephine said the impact that of a company like Encana moving its headquarters outside of Canada “has broad ripple effects”.
“For the redomiciled U.S. parent company, that will be the location of the prominent corporate, securities and advisory work,” she said.
“Canada won’t be eliminated from the mix, as they will still require Canadian counsel for their Canadian assets and their TSX listing, but the Canadian role will be diminished.”