Key Developments: Encana Corporation (ECA)
18.10USD
18 Jun 2013
$0.40 (+2.26%)
$17.70
$17.74
$18.22
$17.70
4,167,522
4,597,447
$24.29
$17.39
Latest Key Developments (Source: Significant Developments)
Encana Corporation Appoints Doug Suttles As President And CEO
Encana Corporation announced that its Board of Directors has appointed Doug Suttles as its President and Chief Executive Officer (CEO) and a Director of the Company Full Article
Encana Corporation Reaffirms FY 2013 Production Guidance-Conference Call
Encana Corp announced that with respect to the Company's liquids growth for fiscal 2013, the Company is on track towards doubling the liquids from about 30,000 barrels in fiscal 2012 to 50,000 to 60,000. In fact, the Company expect to exit fiscal 2013 closer to 70,000 to 75,000 barrels per day. Full Article
Encana Corporation Declares Dividend
Encana Corporation announced that the Board declared a dividend of $0.20 per share First Quarter 2013, payable on June 28, 2013 to common shareholders of record as of June 14, 2013. Full Article
Encana Corp Issues FY 2013 Production Guidance-Conference Call
Encana Corp announced that its fiscal 2013 liquids production guidance is expected to range between 50,000 and 60,000 barrels per day. Full Article
Encana Corp Declares Dividend
Encana Corp announced that the Board of Directors has declared a quarterly dividend of 20 cents per share payable on March 28, 2013 to common shareholders of record as of March 15, 2013. Full Article
Encana Corp's President & CEO Announces Retirement
Encana Corp announced that Randall K. Eresman, President & Chief Executive Officer, has informed the Board of Directors that, effective immediately he is retiring from Encana after serving the Company for approximately 35 years. Mr. Eresman will also be retiring from the Board of Directors but he has agreed to stay on as an advisor until February 28, 2013 to assist with the transition. Clayton H. Woitas, a director of Encana and President and Chief Executive Officer of Range Royalty Management Ltd., has been appointed Interim President & Chief Executive Officer. Mr. Woitas will serve in this role while the Board of Directors conducts a search for a new President & Chief Executive Officer. Full Article
Encana Corp to Sell Interest in Proposed Kitimat Liquefied Natural Gas Export Terminal
Encana Corp announced that it has agreed to sell its 30% interest in the proposed Kitimat liquefied natural gas (LNG) export terminal project to Chevron Canada Limited (Chevron), subject to regulatory approvals and post-closing adjustments. Included in the sale are Encana's 30% interest in the associated Pacific Trail Pipelines as well as approximately 32,500 acres of undeveloped land in the Horn River Basin of northeastern British Columbia and the assumption of Encana's take-or-pay processing commitments for the first phase of the Cabin Gas Plant. Full Article
Encana Corp Announces Joint Venture To Develop Duvernay Lands
Encana Corp announced that it has entered into a joint venture arrangement with Phoenix Duvernay Gas (Phoenix), a wholly owned subsidiary of PetroChina, to explore and develop Encana's extensive undeveloped Duvernay land holdings in west-central Alberta. Under the terms of the agreement, Phoenix will gain a non-controlling 49.9% interest in Encana's approximately 445,000 acres in the Duvernay play for total consideration of CAD2.18 billion. At closing CAD1.18 billion was paid to Encana and CAD1.0 billion is payable over the next four years in the form of a carry of half of Encana's share of development capital. During this period, the joint venture partners plan to invest a total of CAD4.0 billion in new drilling, completion and processing facilities. Encana estimates that the Duvernay joint venture lands contain about 9 billion barrels of oil equivalent petroleum initially-in-place. Encana remains the operator of the joint venture with its 50.1% working interest. Full Article
Nucor Corp Signs Deal To Develop Natural Gas Wells With Encana Corp-Reuters
Reuters reported that Nucor Corp has signed a deal to develop natural gas wells with Canada's Encana Corp, it hopes will guarantee supply more than 20 years for its steel mills and other facilities in the United States. Under the terms of the deal, the companies will share costs to develop wells in the continental United States. EnCana will operate the wells, and drilling could stop if natural gas prices fell below an undisclosed threshold. Full Article
Encana Corp Declares Dividend
Encana Corp announced that the Board of Directors has declared a quarterly dividend of 20 cents per share payable on December 31, 2012 to common shareholders of record as of December 14, 2012. Full Article
UPDATE 3-Encana names BP Gulf spill veteran as its new CEO
CALGARY/HOUSTON, June 11 - Encana Corp named former BP Plc executive Doug Suttles, who played a major role in responding to BP's disastrous 2010 Gulf oil spill, as its new chief executive on Tuesday as Canada's largest natural-gas producer searches for a new course following years of strategic missteps.
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