We believe that having an in-depth knowledge of macroeconomic issues that affect the energy market is central to creating long-term value and realizing superior returns for shareholders and stakeholders. Our internationally renowned Research Group has developed an extensive proprietary database and analytical models of energy economics and financial indicators for the benefit of investors, portfolio companies and other stakeholders.

Peter Tertzakian

Chief Energy Economist & Managing Director

Kara L. Baynton

Manager, Energy Research

Peter Tertzakian, Chief Energy Economist, Managing Director and best selling author of A Thousand Barrels A Second and The End of Energy Obesity. Peter is responsible for ARC’s strategic investment research and oversees publication of ARC Energy Charts, a weekly journal of energy trends.  Peter’s background in geophysics, economics and finance have established him as an internationally recognized expert in energy matters and a highly sought after guest speaker.  Peter joined ARC in 2002 after 20 years in the energy and finance industry.  

  • Joined ARC in 2002.
  • Member of ARC's Executive, Investment and Strategy committees.
  • Currently represents ARC on the board of Nexterra Systems Corp. 
  • Began his career as a geophysicist in 1982 working in field operations, seismic data processing and geophysical software development.
  • Moved to the financial sector in 1990 and has since been analyzing technology and energy-related businesses.
  • Previously ranked as the number one analyst in the oilfield service sector and energy technology sector by the Brendon Woods survey of financial institutions.
  • Education includes a M.Sc. in Management of Technology from the Sloan School of Management at the Massachusetts Institute of Technology, post-graduate studies in econometrics at the University of Southhampton and a B.Sc. in Geophysics from the University of Alberta.
  • Member of the Board of Directors of the Esther Honens International Piano Competition Foundation.

Kara Baynton,  Manager, Energy Research.  Kara is responsible for ARC’s internal research on energy commodity prices, business cycle timing, technological trends and capital markets. She also provides analytical support for our investing activities, including maintaining models and databases on all facets of the energy industry. Kara had more than five years of experience in the investment banking industry before joining ARC in 2002.

  • Joined ARC in 2002. 
  • Prior to joining ARC, worked as an Equity Research Associate for a major investment banking firm, focusing on equity investments in the energy sector.
  • Education includes a B.Comm in Finance from the University of Calgary.
  • CFA charterholder.

Jonathan W. Dueck

Energy Analyst

Jonathan Dueck, Energy Analyst. Jonathan provides internal research on energy commodity prices, business cycle timing, technological trends and capital markets valuation parameters for the purpose of supporting and maximizing ARC's investment strategy. Jonathan’s primary focus is analytical support including maintaining models and databases on all facets of the energy industry.  Jonathan joined ARC in 2007 after spending seven years with one of Canada’s largest energy companies.

  • Joined ARC in 2007.
  • Prior to joining ARC, held various roles at a major Canadian pipeline company.
  • Education includes completion of a diploma in Object Oriented Software Development from the University of Calgary, a Masters in Economics from Simon Fraser University and a B.A. in Economics and Political Science from the University of Winnipeg.
  • Canadian Securities Course, Canadian Options Course, Canadian Options Principle Course.



Administrative Staff


Cicilia Selinger
Executive Assistant
Tel:(403) 292-0676
Email:cselinger@arcfinancial.com