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Oil Share Sales Surge as Keystone Worry Fades

Stock sales in Canada’s oil industry are off to their best start in three years as higher commodity prices and rising cash flow push the Keystone XL pipeline to the background of investor concerns.

Oil and natural gas companies raised $2.73 billion in equity in the first three months of the year, more than six times the same period of 2013, according to data compiled by Bloomberg. The financings were all secondary offerings and represent the most since the $3.37 billion to start 2011.