landowner

Encana's loss

I was hoping someone else with more knowledge about this matter might post something today, but I read yesterday Encana had a 1.4+ Billion Dollar second quarter loss and also might be involved in a collusion case with Chesapeake in Michigan.

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landownerPermalink Reply by ALongview on July 26, 2012 at 15:25

Writedown of assets due to the decline in natural gas prices.

Oil & Gas ProPermalink Reply by Les Bamburg on July 26, 2012 at 16:49

Kathy, cash numbers were positive. The ($1.5B) negative net earnings was a non-cash indicator that was the result of a $1.7B non-cash impairment charge. When natural gas prices recover EnCana will be able to restore the $1.7B to their book value.

CALGARY, ALBERTA -- (Marketwire) -- 07/25/12 -- Encana Corporation (TSX: ECA) (NYSE: ECA) reported cash flow of $794 million or $1.08 per share and $198 million in operating earnings or $0.27 per share for the second quarter 2012. Year-to-date the company generated cash flow of approximately $1.8 billion or $2.47 per share and operating earnings of $438 million or $0.59 per share

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