Hydraulic fracturing, or fracking as it’s called, involves shooting chemically laced water under high pressure into the shale gas formation, a practice that has raised concerns about groundwater contamination and improper disposal of polluted waste water.
Chemicals maker Canexus is benefiting from the growing use of fracturing in oil and gas exploration. The company makes acids that are used in the fracturing process and robust demand for the fluids is helping to boost cash operating profits. Canexus also eyes growth from potentially loading unit trains with export-bound bitumen from its Alberta terminal. Between Jan. 24 and Feb. 6, director Thomas Sugalski bought 20,500 shares in the public market. In December, Brian Bourgeois, senior vice-president of sales and marketing, bought 5,000 shares.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.