Published on January 31, 2019
In a natural gas market that can only be described as a decade-long roller coaster ride, Randy Eresman’s grip on his company is as firm as ever.
Eresman took the helm of Encana – one of the world’s largest natural gas producers – as president and CEO in 2006, 26 years after he joined Alberta Energy Company, an Encana predecessor. Before that, the Medicine Hat native was the company’s chief operating officer from 2002 to 2006.
Despite a prolonged plunge in natural gas prices over the last few years, Encana has remained strong under Eresman’s leadership. It beat analysts’ predictions in the first quarter of 2012 in cash flow and earnings and has plans to weather the storm, including continuing to lead the way in a variety of oil and natural gas plays. Going forward, Eresman is buckled in and ready for the ups and downs.
“I remember seeing high natural gas prices, and then those drop like a rock, and I remember seeing high oil prices, and then those drop like a rock,” he told the Financial Post in February. “Easy money, hard money – this is the business.”
— Eliza Barlow