Oil price slump hits Canadian producer
Calgary, Alberta (UPI) Jan 8, 2015 - Canadian energy company ARC Resources Ltd. said it plans to sell more than 15 million shares to raise capital to fund operations in the slumping oil market. ARC in mid-2014 rolled out an $875 million capital program for this year that envisioned oil priced at around $80 per barrel, about 35 percent higher than the current market price. In a statement Wednesday, the company said i ... more
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