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Stock Market & Financial Investment News

News Breaks
June 27, 2014
07:02 EDTECAEncana sells Bighorn assets to Jupiter Resources for $1.8B
Encana has reached an agreement with Jupiter Resources to sell its Bighorn assets for approximately $1.8B. The sale includes approximately 360K net acres of land along with Encana's working interests in all pipelines, facilities and service arrangements. Total net proved reserves at the end of 2013 were approximately 1,100 billion cubic feet equivalent, with about three quarters of those reserves being natural gas. The transaction is subject to satisfaction of normal closing conditions, as well as regulatory approvals, and is expected to close by the end of the Q3 with an effective date of May 1. Encana plans to update its FY14 guidance, which will consider the impact of all completed transactions to date, in conjunction with the announcement of its Q2 earnings on July 24.
News For ECA From The Last 14 Days
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November 12, 2014
07:31 EDTECABofA/Merrill to hold a conference
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06:04 EDTECAEncana reports Q3 EPS 38c, consensus 46c
Reports Q3 cash flow up 22% to $807M. Reports Q3 net earnings attributable to common shareholders were $2.8B, or $3.79 per share. Doug Suttles, Encana president and CEO stated, "Our Q3 results highlight the tremendous momentum we have built executing our strategy and we are now a full two years ahead of the targets we originally set for 2017. The steps we have taken to transform our portfolio and drive cost efficiencies have delivered an over 50% increase in upstream operating cash flow against an eight percent decline in overall production, compared to the same period in 2013. This highlights our focus on delivering value versus volumes. Consistent with the strategy we announced one year ago, we have built a balanced and resilient portfolio that comprises high-quality oil, natural gas liquids and natural gas investment opportunities."

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