Canadian Energy Firms to Pay Debt, Shareholders Amid Price Surge
Canadian energy firms Cenovus Energy Inc. and Birchcliff Energy Ltd. plan to use higher oil prices to pay down debt, while Tourmaline Oil Corp. and Tamarack Valley Energy Ltd. aim to return cash to shareholders. Oil futures have risen from about $65 to nearly $120 per barrel. Companies are focusing on balance sheet strength and shareholder returns rather than increasing production.





