Encana CEO touts energy industry’s Colorado benefits in Denver speech

encana_logoCathy Proctor – Reporter-Denver Business Journal – December 9, 2013

For every $1 that Canadian energy giantEncana Corp. invests in Colorado, about 65 cents stays in the state, company President and CEO Doug Suttles told a Denver audience.

Suttles — the former BP executive picked to lead Encana in June — was in town Monday to give the keynote speech at theDenver Marriott City Center to several hundred people who gathered to hear the annual University of Colorado BoulderLeeds School of Business economic forecast.

Encana (NYSE: ECA) is based in Calgary, Alberta, Canada, but has a regional office in Denver and directly employs about 1,300 people in the state, Suttles said.

And in a speech where he noted that the risks of energy production must be balanced against the benefits, Suttles listed a number of benefits the booming energy industry’s “renaissance” brings to the state — and the nation.

“Colorado is at the heart of many elements of this renaissance,” he said.

The industry has generated high-paying jobs and millions in tax revenues as more wells, and more oil and gas have been produced in recent years, he said.

Continue reading article at The Denver Business Journal

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