Encana Expects 2017 Profit to be 25% Above Projections
CALGARY—Encana Corp. says it’s even more optimistic about its prospects in 2017 than it was a few months ago.
The Calgary-based oil and gas company now expects its corporate profit margin to be above $10 (U.S.) per barrel of oil equivalent.
That’s 25 per cent higher than the $8 per barrel margin anticipated at Encana’s investor day in October.
Encana says its new projection is based on anticipated cost reductions and higher total volumes in the second half of 2017.
The company expects to provide more detail on Feb. 16, when it issues its fourth-quarter and year-end results.