Cautious optimism in Canada energy patch favors light oil producers

By Nia Williams

CALGARY, Alberta (Reuters) – Canadian light oil producers are in a better position than oil sands heavyweights to benefit from the cautious optimism trickling into the energy industry, thanks to improvements in operating efficiency and two years of steep cost cutting.

Companies including Crescent Point Energy and ARC Resources – light oil and natural gas producers – have already upped 2017 capital budgets from this year and others including Encana Corp are expected to follow.

The increases come amid signs the siege mentality that permeated all parts of Canada’s energy industry is lifting after more than two and …
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