Q2 is out for Encana (NYSE:ECA) and with it came a major operational update.
The quarterly earnings arrived slightly below expectations. But the more important news was the progress made towards achieving a more balanced portfolio of natural gas, oil, and liquids and the increased forecast of $500M in terms of both operating cash flows and free cash flows for 2014.
Bottom line: The restructuring plan announced last November is well ahead of schedule. Quoting management on the call, they are one or two years ahead of their 2017 objectives. That means that by mid-2015 (a year from now), the ship will have fully righted itself according to them. Something all shareholders should feel cheerful about as it...
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