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Stock Market & Financial Investment News

News Breaks
December 13, 2012
12:25 EDTECAEncana sees ending year with cash balances over $3B, well ahead of target
Including the proceeds from the transaction with Phoenix, Encana said it expects to end the year with cash balances in excess of $3.0B, well ahead of the targeted $2.5B the company projected in June. In addition, confirmed carry capital committed to Encana from joint ventures and other third party agreements for 2013 is now approximately $750M, and covers about half of Encana's projected costs in those areas. To date, Encana has increased its hedge position for 2013 to approximately 1.5B cubic feet per day at an average price of $4.39 per million cubic feet, the company said. "Our enhanced risk management position combined with our significant expected cash balance for the end of the year puts us in a solid position to execute on our plans for 2013. We expect these joint venture arrangements will help us achieve higher capital efficiencies which will enable us to reduce the amount of capital that we initially projected to spend next year," the company said.
News For ECA From The Last 14 Days
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April 20, 2015
11:44 EDTECAEncana seeking buyers for Haynesville assets, Bloomberg reports
Citigroup is seeking buyers for Encana's Haynesville assets in Louisiana as the company focuses on drilling in Texas and Canada, Bloomberg reports, citing people with knowledge of the matter. The natural gas properties could be valued as much as $1B, Bloomberg notes. [Reference Link
11:24 EDTECAEncana seeking buyers for Haynesville assets, Bloomberg reports
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April 13, 2015
10:00 EDTECAOn The Fly: Analyst Upgrade Summary
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08:47 EDTECAEncana upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded to Buy with a $14 price target based on valuation, accelerated news flow from the Permian, and leverage to rising oil prices.

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