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Sale of Encana assets to CPP Investment Board group delayed up to 6 months
2015-12-22 14:02:02| Oil & Gas - Topix.net
There's a delay of up to six months in the US$900-million sale of Encana's DJ Basin oil and gas assets in Colorado to a group led by the Canada Pension Plan Investment Board. The transaction was originally to close by the end of 2015 but that's been pushed to the second quarter of 2016.
Encana to cut capital budget by $600 million, annual dividends by $185 million
2015-12-14 15:43:52| Energy - Topix.net
Encana Corp. says next year's capital spending budget will be US$600 million lower than in 2015 and its dividend to shareholders will be cut by about 78 per cent. The Calgary-based oil and gas producer is estimating a total capital investment of between US$1.5 billion and US$1.7 billion in 2016.
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UPDATE 1-Canada's Encana cuts 2016 capex by more than a quarter
2015-12-14 13:52:33| Oil & Gas - Topix.net
Dec 14 Canadian oil and natural gas producer Encana Corp , responding to a sharp drop in oil prices, has cut its 2016 capital budget by more than a quarter to $1.5-$1.7 billion. The Calgary-based oil producer, which has accelerated its spending in the Permian basin in Texas, said it would direct about half of its capital budget for the next year to Permian.
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Encana completes sale of Haynesville natural gas assets in US for $850m
2015-11-13 01:00:00| Hydrocarbons Technology
Encana Oil & Gas (US), the wholly-owned subsidiary of Canada-based EnCana, has completed the previously announced sale of its Haynesville natural gas assets in northern Louisiana, US for $850m.
Encana writes down more assets, posts US$1.2-billion loss in third quarter
2015-11-12 18:15:40| Oil & Gas - Topix.net
Encana Corp. says it had a US$1.2-billion net loss in the third quarter, mainly as recognition of the impaired value of some of its assets given the current low-price environment. The loss amounted to US$1.47 per share and contrasted with a US$2.8 billion net profit in last year's third quarter, when oil and gas prices were more than double the current levels.
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