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News Breaks | | | | December 13, 2012 | | 12:25 EDT |  | ECA | Encana 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. | |
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News For ECA From The Last 14 Days Check below for free stories on ECA the last two weeks. |
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| May 21, 2013 | | 09:33 EDT |  | ECA | Bloomberg LINK to host a summit
 Subscribe for More Information | | | May 14, 2013 | | 07:16 EDT | | ECA | Citigroup to host a conference
2013 Global Energy & Utilities Conference is being held in Boston on May 14-16. | |
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