The Guggenheim Canadian Energy Income Fund (ENY) - the only U.S.-listed ETF devoted exclusively to energy stocks - changes its underlying index to the S&P/TSX Canadian High Income Energy Index.
It previously tracked the Sustainable Canadian Energy Income Index,
Guggenheim says the switch gives the ETF more exposure to high-yielding Canadian energy names. Top holdings at the moment include: Crescent Point Energy (CSCTF.PK), Suncor (SU), TransCanada (TRP), and Enbridge (ENB).
Crescent Point's (CSCTF.PK) $784M acquisition of Ute Energy could herald a Utah oil boom, Wells Fargo analysts say. Investors are aware of the problems producers in eastern Utah face getting oil and gas to market, “but the entry of a company with the balance sheet to develop infrastructure is a positive.” Other players with an area presence: EOG, XOM, APC, NFX, BRY, BBG.
Crescent Point Energy (CSCTF.PK) agrees to acquire privately-held Ute Energy Upstream Holdings, which is focused on the Uinta Basin light-oil resource play in Utah, for $784M in cash. Crescent Point plans a share offering to raise ~C$750M to help fund the purchase, offering the shares at C$40 each.
Crescent Point Energy (CSCTF.PK) agrees to buy smaller rival Wild Stream Exploration (WDPIF.PK) for C$770M. Crescent Point expects to buy about 5,400 barrel of oil equivalent per day of Wild Stream's production; the balance will be transferred into a new junior exploration company to be publicly listed and led by Wild Stream CEO Neil Roszell.