Seeking Alpha

Encana says it's willing to sell Deep Panuke gas project

  • Encana (ECA) says it is open to selling its $1B Deep Panuke natural gas project offshore Nova Scotia as it shifts focus to five core areas of production.
  • Deep Panuke, which last month reached full production of 300M cf/day of gas from four wells, has benefited from stronger prices as a result of extreme cold weather that hit much of the U.S. northeast in recent weeks, but the company feels it no longer fits into its portfolio.
  • The comments are another sign of the broad restructuring under way at ECA, which is attempting to rewrite its strategy after surging production from shale deposits cut prices for the heating fuel.
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs