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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (5379)	7/31/2019 9:20:06 AM
From: E_K_S	Respond to of 7260

Encana's Q2 beat boosted by record Anadarko, Permian production Jul. 31, 2019 8:22 AM ET\|About: Encana Corporation (ECA)\|By: Carl Surran, SA News Editor Encana (NYSE: ECA) +4.8% pre-market after reporting better than expected Q2 earnings, helped by record high quarterly production from its core Anadarko and Permian holdings. Q2 total production rose 11% Y/Y on a pro forma basis to 591.8K boe/day, with oil and natural gas liquids production increasing 16% to 324K bbl/day; ECA's realized price for oil and NGLs in the quarter rose 3.7% Y/Y to $60.14/bbl. ECA says it continues to enhance returns in Anadarko's STACK play through additional reductions in completed well costs; since closing the Newfield acquisition in February, average well costs have been reduced to $6.5M from $7.9M. ECA says free cash flow climbed to $127M in the quarter, and the company says it expects to generate significant free cash flow in H2 at current commodity prices. ECA expects $500M-$600M in capital spending during H2, with overall production of 565K–585K boe/day, excluding volumes from Arkoma and China. -------------------------------------------------------------- Have a small position in ECA could be a takeover target especially if they can show growth/earnings EKS