EnCana Company News

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Encana Calls End to Permian Race as Focus Turns to Output
Wednesday, October 18, 2017 Investors will focus on how profitably companies are able to produce from their current holdings, Suttles says.

Canada's Encana Smashes Profit Estimates, Shares Rise
Friday, July 21, 2017 Encana posts a quarterly profit that handily beat analysts' estimates and raised its full-year core asset production growth forecast.

Encana To Sell Natgas Assets To Caerus Oil For $735MM
Friday, June 09, 2017 Encana says it will sell its Piceance natural gas assets in northwestern Colorado for $735 million.

Encana Boosts Capital Spending By 50% Amid Oil Recovery
Thursday, February 16, 2017 Encana reports a better-than-expected quarterly operating profit, helped by a cash tax recovery.

Encana On Track To Exceed 2017 Budget Plan
Wednesday, January 04, 2017 Encana met its projected 2017 operations activity and rig count in December, building momentum for its five-year plan, CEO Doug Suttles says.

Encana Says 2016 Costs Down By $50 Million
Wednesday, October 05, 2016 Encana says it has made $50 million in cost savings in 2016.

Canada's Encana Posts Smaller Loss, Raises 2016 Capital Spend Plan
Thursday, July 21, 2016 Canadian oil and gas producer Encana Corporation reports a smaller quarterly loss thanks to its ongoing cost-cutting drive.

Canadian Energy Earnings Hint at Brighter Outlook for Oil
Thursday, July 21, 2016 The Canadian oil and gas earnings season kicks off with signs of an industry recovery as Encana Corp and Precision Drilling Corp outlined plans to boost activity.

SandRidge Says It Is No Longer Target of Antitrust Probe
Friday, April 15, 2016 Oil and gas producer SandRidge Energy says it's no longer a target of a federal grand jury probe concerning antitrust violations related to leasing of oil and gas properties.

In Drive to Deflate Natural Gas Surplus, US Pounces on Canada
Friday, March 11, 2016 US gas drillers, battered by the lowest prices in 17 years, find another release valve for their output: Canada.

Canada's Encana Cuts 2016 CAPEX, To Lay Off 20% Of Workforce
Wednesday, February 24, 2016 Encana cuts its 2016 capital spending forecast, saying it will lay off 20% of its workforce this year.

Canada's Encana Cuts 2016 Capex by More Than a Quarter
Monday, December 14, 2015 Canadian oil and gas producer Encana Corporation cuts its 2016 capital budget by more than a quarter to $1.7 billion.

Encana Posts Loss, Accelerates Activity In US Permian Basin
Thursday, November 12, 2015 Encana reports a third-quarter loss, but an increase in oil production.

Encana To Sell Denver Julesburg Basin Assets For $900M
Thursday, October 08, 2015 Encana says it will sell its Denver Julesburg basin assets in Colorado, the latest divestitures as it focuses on its high-value gas liquids and oil properties.

Shale Driller Debt Burden Puts 400,000 Oil Barrels at Risk
Friday, September 18, 2015 As much as 400,000 barrels a day of oil production is at risk as US shale companies like run out of money and slow drilling.

Encana to Sell Haynesville Nat Gas Assets for $850M
Tuesday, August 25, 2015 Encana reaches an agreement to sell its Haynesville natural gas assets, located in northern Louisiana.

Canada's Encana Lays Off 200 Employees In July Amid Oil Slump
Friday, July 24, 2015 Encana says it laid off about 200 employees this month, joining a growing list of oil producers cutting jobs to cope with a steep fall in crude prices.

Encana Says to Explore Sale of Haynesville Gas Properties
Monday, April 20, 2015 Encana is seeking buyers for its natural gas properties in Louisiana as it focuses on drilling for oil and other liquids in Texas and Canada, according to sources.

Encana Cuts 2015 Budget After 85% Fall In Operating Profit
Wednesday, February 25, 2015 Encana slashes its 2015 capital budget by a quarter in response to a slump in global crude oil prices.

Canada's Encana To Raise 2015 Spending, Bucks Industry Trend
Tuesday, December 16, 2014 Encana says it would boost capital spending in 2015 to focus on its more-profitable shale oil fields, bucking an industry-wide move to cut spending as oil prices tumble.

Encana's Operating Profit Nearly Doubles On Higher Oil Production
Wednesday, November 12, 2014 Encana says its quarterly operating profit jumped 87% due to higher production of oil and natural gas liquids.

SBM Completes Loan Deal to Fund Deep Panuke Facility
Tuesday, November 04, 2014 SBM Offshore completes a $450-million loan deal to fund the Deep Panuke Production Field Centre offshore Canada.

Encana To Sell Some Natural Gas Assets In Alberta For $541M
Wednesday, October 08, 2014 Encana says it would sell some of its natural gas assets in southern and central Alberta for about C$605 million as it focuses on more lucrative oil and natural gas liquids.

Encana Buying Athlon Energy For $5.93 Billion
Monday, September 29, 2014 Encana is buying Athlon Energy Inc. for $5.93 billion in an effort to boost is oil production by tapping into Texas's booming Permian Basin.

Encana To Raise C$2.6B In Sale Of PrairieSky Stake
Monday, September 08, 2014 Encana will sell its remaining stake in PrairieSky Royalty in a C$2.6 billion ($2.37 billion) deal as it continues to raise funds to increase oil production.

Encana Oil Production Rise Offsets Profit Fall On Weak Natgas
Thursday, July 24, 2014 Encana said oil and natural gas liquids production climbed 43% year-on-year in the second quarter of 2014.

Chesapeake Faces Trial On Bid-Rigging In Michigan Lease Sale
Thursday, July 10, 2014 A judge in Michigan has ruled that Chesapeake must face a criminal trial on a charge of bid-rigging with competitor Encana at a 2010 state land lease auction.

Encana To Sell Bighorn Assets For About $1.8B
Friday, June 27, 2014 Encana agrees to sell its Bighorn operations in Canada to Jupiter Resources, which includes about 360,000 acres of land.

Encana Operating Profit Doubles On Higher Gas Prices, Liquids Output
Tuesday, May 13, 2014 Encana says its first-quarter operating profit more than doubled, helped by higher gas prices and liquids production.

Encana To Double Oil Output With $3.1B US Shale Deal
Wednesday, May 07, 2014 Encana says it will buy producing assets in the Eagle Ford shale field in Texas from Freeport-McMoRan Copper & Gold for $3.1 billion, nearly doubling its oil output.

Encana To Sell Some Texas Gas Assets For $530M
Tuesday, April 29, 2014 Encana has agreed to sell about 90,000 net acres in east Texas for about $530 million, as part of a plan to cut its dependence on low-value natural gas.

Encana To Sell Nat Gas Assets To TPG Capital For $1.8B
Monday, March 31, 2014 Encana says it will sell some natural gas assets in Wyoming's Jonah field to a TPG Capital affiliate, as it focuses on regions rich in oil and natural gas liquids.

Encana to Grow Natural Gas Liquids Production by 30%
Wednesday, December 11, 2013 Canada's Encanca Corp plans to increase natural gas liquids production by 30 percent in 2014.

Encana to Cut Workforce, Slash Div as Gas Prices Stay Low
Tuesday, November 05, 2013 Encana plans to cut 20 percent of its workforce, slash its dividend and invest nearly three-quarters of its 2014 capital spending budget in more lucrative oil and liquid gas assets.

Canadian Gas Giant Encana Restructures Senior Management
Tuesday, October 01, 2013 Encana says it is restructuring its senior management team, the latest step in the revamp promised by new Chief Executive Doug Suttles.

Encana Reviews Dry Gas Assets, Signals Big Changes
Thursday, September 12, 2013 Encana signals a potential sale of dry natural gas assets as it focuses on more-lucrative oil and gas liquids and cutting the number of properties it owns.

EPA Ends Investigation into Encana's Pavilion Field
Friday, June 21, 2013 The U.S. EPA ends its investigation into Encana's Pavilion field in Wyoming

Encana Names Former BP Exec as President, CEO
Tuesday, June 11, 2013 Encana names Doug Suttles, the former chief operating officer at BP Exploration & Production, as its new president and CEO.

Encana Swings to First Quarter Loss; CEO Search Continues
Tuesday, April 23, 2013 Encana posts a loss in its first quarter, hurt in part by a hedging-related loss and lower natural gas and liquids prices.

Jogmec to Develop Shale Technology With Encana, Mitsubishi
Wednesday, April 03, 2013 Jogmec says it has agreed with Encana and Mitsubishi to jointly develop technologies to extract hydrocarbon from shale more efficiently.

Encana Posts Smaller 4Q Loss; Results Beat Views
Thursday, February 14, 2013 Encana posts a fourth-quarter loss that was much smaller than its year-earlier loss and better than analyst expectations.

Encana Opens Higher; CEO Eresman Steps Down
Monday, January 14, 2013 Encana Corp. opens higher after its long-time President and CEO Randall Eresman said he was retiring.

Encana 'Disappointed' By Pavilion Comment Period Extension
Friday, January 11, 2013 Encana Corp. has expressed disappointment over the EPA's extension of the comment period for the draft report of the Pavilion gas field monitoring wells.

SBM Offshore Seeks to End Conflict over Troubled Yme Platform
Thursday, December 20, 2012 Dutch oil services company SBM Offshore has announced a raft of new measures to put an end to a lengthy conflict over a troubled oil and gas platform offshore Norway.

Encana Reaches $2.21B JV Deal with PetroChina
Thursday, December 13, 2012 Just days after Canada clarified investment rules for foreign state-owned investors, PetroChina said it would pay $2.21B to buy into a natural-gas project with Encana.

EnCana: EPA Pavilion Draft Report Should Be Withdrawn
Tuesday, December 11, 2012 An EnCana official has called on the EPA to withdraw its 2011 draft report on the evaluation of data from two monitoring wells at Encana's Pavilion natural gas field in Wyoming.

EnCana, Nucor Ink Gas Drilling, Supply Agreement
Tuesday, November 06, 2012 Nucor Corporation enters a long-term agreement with EnCana Oil & Gas to conduct a U.S. onshore natural gas drilling program.

Encana Posts Hefty 3Q Loss on $1.2B Charge
Wednesday, October 24, 2012 Encana said it took a hefty third-quarter impairment charge as a result of low nat-gas prices, its second such charge in as many quarters, resulting in a $1.24B net loss for the period.

API: EPA Pavilion Analysis Not Scientific, Sound
Thursday, October 18, 2012 USGS did a better job conducting water quality testing at the Pavilion gas field, while the EPA's groundwater investigation did not involve "scientific and sound" methods, says API.

Ecuador Seeks Annulment of International Court Ruling in Occidental Case
Wednesday, October 10, 2012 Ecuador has officially requested the annulment of an international court ruling that ordered it to pay $1.77 billion, plus pre- and post-award interest, to Occidental Petroleum Corp.