Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Encana expects 2017 profit margin will be 25% higher than projected in October
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 (TSX:ECA) now expects its corporate profit margin to be above US$10 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.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
