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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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February 25, 2015
12:31 EDTECAOn The Fly: Midday Wrap
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06:24 EDTECAEncana reduces 2015 CapEx by $700M to $2.0B-$2.2B
Encana is reducing its previously announced 2015 capital investment by approximately $700M to $2.0B-$2.2B. The company's 2015 capital program is now based on assumptions of $50 per barrel WTI oil prices and NYMEX natural gas prices of $3 per MMBtu. Encana expects total 2015 cash flow of $1.4B-$1.6B. The company intends to fully fund its 2015 capital program and dividend with anticipated cash flow combined with net proceeds of around $800M from the previously announced divestitures of certain Clearwater assets and Montney midstream infrastructure.
06:22 EDTECAEncana reports Q4 EPS 5c, consensus 21c
Reports Q4 average liquid production 106,400 bbls/d, up 61% YoY. Reports Q4 natural gas production of 1,861 MMcf/d, down 32%.

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