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Encana Corp (ECA.TO)

ECA.TO on Toronto Stock Exchange

16.85CAD
2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Morgan Stanley reports 5 pct passive stake in Encana Corp as of October 26 - SEC filing
Friday, 4 Nov 2016 04:41pm EDT 

Encana Corp :Morgan Stanley reports 5.0 percent passive stake in Encana Corp as of october 26 - sec filing.  Full Article

Encana to outline five-year growth potential during investor day
Wednesday, 5 Oct 2016 08:00am EDT 

Encana Corp : To outline five-year growth potential during investor day, company updates 2016 guidance to reflect lower costs . Updated 2016 guidance to reflect further reduction in production, mineral and other taxes, operating expense, transportation,processing costs . Reduction in expenses, costs has delivered total additional savings of $50 million .As at September 30, 2016, Encana has hedged about 32,960 barrels per day (BBLS/D) of expected 2017 crude and condensate production.  Full Article

Nucor sold 50 pct equity interest in Hunter Ridge Energy Services to Encana
Tuesday, 4 Oct 2016 09:00am EDT 

Nucor Corp: Purchased 49% of Encana's leasehold interest covering approximately 54,000 acres in south Piceance basin . Nucor sold its 50% equity interest in Hunter Ridge Energy Services LLC to Encana . Nucor retains all existing producing wells it currently owns . Nucor and Encana also terminated two carry and earning ("C&E") drilling agreements entered into in 2010 and 2012 .By canceling agreements, co has eliminated all future carry capital, contingent liabilities which should result in lower unit cost for future drilling.  Full Article

Encana Corp files for mixed shelf of up to $6 bln
Monday, 25 Jul 2016 02:24pm EDT 

Encana Corp : Files For Mixed Shelf Of Up To $6.0 Bln - Sec filing .Intends use net proceeds from sale of securities to finance capital expenditures, to reduce outstanding indebtedness.  Full Article

Encana posts Q2 operating profit of $0.10/share
Thursday, 21 Jul 2016 06:00am EDT 

Encana Corp: Encana delivers significant efficiency improvements with strong second quarter results . Q2 operating earnings per share $0.10 . Q2 loss per share $0.71 . Encana Corp qtrly cash flow per share $0.21 . Expect to use proceeds from announced divestitures to strengthen balance sheet and modestly increase 2016 capital program . Anticipate additional activity to deliver about 13,000 boe/d of production from core four assets in q4 . Co is increasing 2016 production guidance and expects q4 exit production decline from core four assets to be cut from 10 percent to five percent . Increasing its 2016 production guidance and expects q4 exit production decline from its core four assets to be cut from 10 percent to five percent . Encana Corp says Gordondale and DJ Basin divestitures are expected to close by end of July delivering proceeds of approximately $1.1 billion . Expects full-year benefit of transportation-related cost savings to be even greater in 2017 . Has 300 mmcf/d of expected 2017 natural gas production hedged under 3-way options, 350 mmcf/d using nymex fixed price contracts for q1 2017 . About 15,500 bbls/d of expected 2017 crude and condensate hedged using WTI fixed price contracts at an average price of $49.49 per bbl . Q2 earnings per share view $-0.08 -- Thomson Reuters I/B/E/S . "Adding 50 percent more drilling and completions activity to our 2016 program".  Full Article

Navitas Midstream announces agreement with Encana Oil & Gas
Monday, 16 May 2016 08:18am EDT 

Encana Corp : Will purchase encana's gas from its substantial acreage position in Howard county , Texas - . Navitas Midstream says plans to construct new cryogenic processing capacity near its existing spraberry processing complex . New processing facilities will increase combined processing capacity in midland basin to about 155 mmcf per day . Navitas Midstream says entire project is expected to be completed early q2 of 2017 . New processing facilities will have carbon dioxide treating and nitrogen rejection capabilities .Announces Long-Term agreement with encana oil & gas.  Full Article

Encana Corporation cuts 2016 capex, to lay off 20 pct of workforce - Reuters
Wednesday, 24 Feb 2016 07:01pm EST 

Encana Corporation:Encana Corp cut its 2016 capital spending forecast to less than half its 2015 expenditure and said it would lay off 20 percent of its workforce this year.The oil and gas producer cut its capital budget for 2016 to $900 million-$1 billion from $1.5 billion-$1.7 billion it forecast earlier as a steep drop in oil prices forces the company to focus on core assets and lower costs.Encana's U.S.-listed shares rose about 3 percent in premarket trading on Wednesday.  Full Article

Encana Corp gives FY 2016 production guidance
Wednesday, 24 Feb 2016 06:00am EST 

Encana Corp:Expects FY 2016 production to range between 340,000 BOE/d and 360,000 BOE/d.  Full Article

EnCana Corp - Canada's Encana slashes dividend, cuts capex - Reuters
Monday, 14 Dec 2015 12:53pm EST 

EnCana Corp:Canadian oil and natural gas producer Encana Corp ECA.TO ECA.N, responding to a sharp drop in oil prices, has slashed its dividend by about 79 percent and its 2016 capital budget by more than a quarter. - RTRS.The company's shares fell as much as 10 percent on the Toronto and New York Stock Exchanges on Monday. - RTRS."The initial guidance that they put up for 2016 was little worse than what most people were expecting on the production side. - RTRS.And there is a risk the numbers could come down further because the guidance was based on WTI of $50," said Cormark Securities Inc analyst Amir Arif. - RTRS.U.S. West Texas Intermediate CLc1 was trading at about $35.56 per barrel at 1625 GMT. - RTRS.Encana said it expected to produce an average 340,000-370,000 barrels of oil equivalent per day (boepd) next year, down from the 395,000-430,000 boepd it expects to produce in 2015. - RTRS.The company expects to end 2015 with around 600 fewer staff, down to 2,900 from around 3,500. - RTRS.Around half of this decrease is attributable to natural attrition and divestitures, in which staff transitioned to the purchasing company. The remaining half is attributable to layoffs, Encana spokesman Doug McIntyre said. - RTRS.  Full Article

Encana Corp reaches agreement to sell its DJ Basin Assets for $900 mln
Thursday, 8 Oct 2015 06:39am EDT 

Encana Corp:Reaches agreement to sell its dj basin assets for US$900 million.Company expects to have reduced its net debt in 2015 by approximately $3 billion by year-end.Says transaction includes all of encana's dj basin acreage comprising 51,000 net acres.Transaction includes all of encana's dj basin acreage comprising 51,000 net acres.Will use the cash proceeds to further strengthen its balance sheet and create greater flexibility in this market environment.To sell Denver julesburg assets in Colorado to new entity 95% owned by Canada pension plan investment board and 5% by broe group.Says unit, Encana Oil & gas (USA) inc., reached agreement to sell its Denver julesburg (dj) basin assets in Colorado.During first half of 2015, encana's dj basin assets produced an average of 52 million cubic feet per day (mmcf/d) of natural gas.  Full Article

BRIEF-Morgan Stanley reports 5 pct passive stake in Encana Corp as of October 26 - SEC filing

* Morgan Stanley reports 5.0 percent passive stake in Encana Corp as of october 26 - sec filing Source text: (http://bit.ly/2fnJuaF) Further company coverage: