Home General News Energy hedge Fund Westbeck Capital Management bullish on Canada market

Energy hedge Fund Westbeck Capital Management bullish on Canada market

The beaten-down Canadian oil sector is the latest target for oil hedge funds following the success in shorting U.S. shale companies back in the previous year.

As per sources closely following the matter, following a 40% percent gain back in the previous week, Energy Hedge Fund, Westbeck Capital Management is ready to bank on Canadian firms as they have to spend relatively less in comparison to their U.S. counterparts, in turn leaving them with a higher level of free cash flow.

Additionally, in comparison to firms operating in American shale fields, oil fields in Canada are not affected by the rapid rate of decline in production.
In the past 3 years, foreign companies coming into Canada have reportedly ditched more than $30billion of assets which has caused a serious blow to Canada’s energy industry.
Several analysts have concluded that a lack of pipeline availability has affected any or all growth prospects in Canada.
Why should Canada expect a turnaround soon
In a statement, chief executive officer at Westbeck based out of London, Jean-Louis Le Mee said, “At current oil prices, Canadian oil names are generating gigantic amounts of free cash flows as they aren’t spending money to grow their product, they are just spending to maintain it, Lee Mee further added, “It’s just a little bit odd to have energy valuations at all-time lows when S&P valuations are at all-time highs. It’s truly unprecedented.”
According to the formed co-founder of BlueGold Capital Management, Le Mee, he said that he would fully support Canadian mid-cap names like Baytex Energy, MEG Energy, Parex Resources, Crescent Point Energy, and Torc Oil & Gas.
On Monday, While downgrading U.S. exploration and production firms, TD Securities maintained an overweight stance on the Canadian energy sector as Canadian companies also silently have been outperforming their U.S. equivalent as seen on the S&P/TSX Composite Energy Index.
THus showing positive signs that energy hedge funds in Canada are regaining its footing.
Along with Will Smith, the former head of natural resources at Michael Hintze’s CQS and Tudor, Holt & Co. Jon Mellberg and Pickering, Westbeck was launched by Le Mee back in 2016. After two successive years of losing, in 2019 the energy hedge fund managed to beat the market along with many of its peers by wagering against 12 U.S. shale companies.
On average Hedge funds are currently left short of the 29% gain of the S&P 500 Index.

Safdarali Rizvi
Safdarali Rizvi the management graduate. Has been an avid book reader all his life so naturally loves playing with his words. His curiosity for discovering futuristic opportunities drives him to enlighten the entire Geekymint team with exclusive and intriguing news. He has a real passion for calisthenics and sports. His management abilities and hunger for learning brings tremendous value to our team.


Please enter your comment!
Please enter your name here

Must Read

ThopTV – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, FireTV

About ThopTV movies ThopTV has been around for many years, initially, a user could download the app for an...

Top 15 best Mobdro alternatives to watch free live tv and movies

Modbro was one of the growing movies and live tv streaming sites with free unlimited content. Mobdro had its app on the...

Mobdro – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick & FireTV 

About Mobdro Mobdro App is one of the latest introduction into the free movie streaming app market. Mobdro is rapidly dethroning some of the big...

Top 14 best thoptv alternatives for free movie streaming and Live TV

Streaming apps like Netflix, Amazon Prime, Hulu etc have all become a household name, thus proving that the Internet is the new...

Download Kissanime App Apk on Android, iOS, PC, Firestick, Roku (2021 Update)

What is kissanime Kissanime is a free anime streaming website if you ask any anime lover about the best website to watch the latest anime...

Random Post

7 Steps to Having Awesome Movie Nights at Home

Whether you're planning a family movie night or inviting some friends over, watching movies in good company is always lots of fun. 

You can be the first woman to travel to the moon on Elon Musk’s SpaceX trip

If Elon Musk’s rocket flying to the moon was not a major headline in itself, try this, a Japanese billionaire who has already...

Stardew valley vs Harvest moon, A detailed comparison between the two

It's Stardew Valley vs Harvest Moon today and we are here to answer all the frequently asked questions related to these wonderful...

Richard Branson reveals how he brought a $6 million island for $180000

Turns out even with a billionaire status, to impress a girl a guy will still spend a bomb. After all, Richard Branson did confess...

4 easy ways to solve the RPC Server is Unavailable problem on windows (2021 update)

The RPC server is Unavailable error pops up when your system is having a problem in communicating with other devices.  Below are the steps to...