More on Encana: Q1 profit +192%, realized gas prices surge

Encana's (ECA+0.8% premarket after Q1 operating earnings beat expectations and nearly tripled, helped by higher gas prices and liquids production.

Output of oil and natural gas liquids averaged 67.9K bbl/day, up 56% Y/Y, while natural gas production averaged 2.81B cf/day, down 2% Y/Y.

ECA's realized gas price was $5.82/Mcf vs. $3.86 prior.

Cash flow nearly doubled to $1.09B, or $1.48/share.

Closed its $1.8B sale of much of its Jonah gas field in Wyoming and has more properties still on the block.

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Comments (1)
  • marpy
    , contributor
    Comments (1721) | Send Message
    Encana had very good results and its direction bodes well for the future. The stock was initially up over a dollar and is now up only 35 cents. looks like the market is in sell on news mode.
    13 May 2014, 01:03 PM Reply Like
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