Tags » EnCana Corporation

Oil industry's biggest spenders transform into stressed sellers in crude slump

The energy industry’s biggest acquirers when the oil market was hot are turning into pressured sellers in the worst crude slump since the 1980s.

Encana Corp., after making about US$9.9 billion of oil and natural gas purchases in 2014, announced North America’s most sizable energy land sale this year, with a deal Tuesday to unload its Louisiana assets for US$850 million to lower debt. 732 more words

Energy

Encana to exit Louisiana, reap $1.3 billion US in cash and savings through sale

Encana Corp. is exiting Louisiana through a proposed deal worth more than $1.3 billion US in cash and savings.

The Calgary-based oil and gas producer will receive $850 million US cash and reduce its commitments by about $480 million through the sale of its Haynesville natural gas assets in northern Louisiana, under an agreement announced Tuesday. 123 more words

Energy

With eye on debt, Encana Corp sells Louisiana natural gas assets to reap US$1.3B in cash and savings

CALGARY – In an effort to pay down its debt and narrow its focus on fewer oil and gas plays, Encana Corp. struck a deal to sell off its natural gas assets in Louisiana for US$850 million on Tuesday. 452 more words

Breaking

PrairieSky Royalty Ltd revenue rises 31% in second quarter despite weak oil prices

CALGARY – Despite weak oil prices and a slowdown in oilfield activity, PrairieSky Royalty Ltd. was able to grow its revenues by 31 per cent between the first and second quarter. 120 more words

Energy

PrairieSky Royalty vows to continue to add oil and gas assets

PrairieSky Royalty Ltd. says it plans to continue hunting for bargain buys in a low commodity environment after completing $38 million in cash and $14 million of non-cash acquisitions in the second quarter. 187 more words

Energy

Encana Corp. posts second-quarter loss, revenue falls from year ago

Encana Corp. (TSX:ECA) reported a loss in its latest quarter as its U.S. operations were hit by a big impairment charge related to the drop in commodity prices. 102 more words

Business

No relief in sight: Encana Corp's results a preview of misery in store for energy sector

Encana Corp. kicked off second-quarter earnings season Friday for Canada’s large oil and gas producers with a US$1.6 billion loss, providing a taste of the sector’s misery from continuing low oil prices: layoffs, cost cuts, tight spending, asset sales and uncertain investment plans. 750 more words

Energy