Encana Oil Production Rise Offsets Profit Fall On Weak Natgas

Analysts on average had expected the company to earn 24 cents per share, according to Thomson Reuters I/B/E/S.

Encana said net income attributable to shareholders fell to $271 million from $730 million a year earlier.

Output of oil and natural gas liquids rose 43 percent to average 68,200 barrels per day (bpd) in the quarter. Natural gas production fell 8 percent to 2.54 billion cubic feet per day.

The company raised its 2014 total liquids production forecast to 86,000 to 91,000 bpd from 68,000 to 73,000 bpd.

Encana's cash flow, a key indicator of its ability to pay for new projects and drilling, fell to $656 million, or 89 cents per share, from $665 million, or 90 cents per share.

(Additional reporting Ashutosh Pandey in Bangalore; Editing by Savio D'Souza and Marguerita Choy)