Jeff McIntosh/Canadian PressEncana CEO and president Doug Suttles Suttles suggested Encana is ready for more deals, even as his company plans to cut capital spending by a further US$700 million in 2015, to about US$2 billion to US$2.2 billion.
Encana Corporation (ECA) moved to higher ground as the shares gained 0.37 points or 2.7007%. Among the most assuring fact is that the intraday rally did not lose steam and the stock closed near the days high.
ECA's reduced $2.1B budget this year assumes it can reduce costs by 15%, the CEO says, adding that the company has secured rate cuts of as much as 50% in some areas following talks with drillers and other service suppliers.
Encana Corporation (USA) (NYSE:ECA): Encana has been initiated with an Equal Weight at Morgan Stanley.Encana Corporation (USA) (NYSE:ECA): The mean short term price target for Encana Corporation (USA) (NYSE:ECA) has been established at ...
Led by bullish frenzy, the shares of Encana Corporation (TSE:ECA) surged 0.12% or 0.02 points in a good session. After opening the day at 17.22, the price dipped only slightly to 17.07 before reclaiming higher ground and hit 17.55.