Canadian energy company ARC Resources Ltd. said it plans to sell more than 15 million shares to raise capital to fund operations in the slumping oil market. ARC in mid-2014 rolled out an $875 million capital program for this year that envisioned oil priced at around $80 per barrel, about 35 percent higher than the current market price. In a statement Wednesday, the company said it plans to sell 15.5 million shares to raise around $350 million to fund developments in 2015 . “ARC plans to execute a $750 million capital program in 2015, reduced from the previously announced $875 million capital budget, due to the continued deterioration in commodity prices,” it said. The company last year set a production target of […]