Encana To Focus On Its Core Assets - Quick Facts

(RTTNews) - Encana Corp. (ECA, ECA.TO) announced the company's 2016 capital program which directs 95 percent of its total $1.5 billion to $1.7 billion planned investment to its core four assets, with about 50 percent directed to the Permian. Encana's 2016 capital budget is around $600 million lower than 2015. The company said production from its core four assets is expected to average between 260,000 to 280,000 barrels of oil equivalent per day, representing over 75 percent of total expected production.

Encana said the company is planning to reset its annualized 2016 dividend to $0.06 per share, or about $50 million per year. The company will discontinue the dividend reinvestment plan discount after December 31, 2015. As a result, the combined cash and cash equivalent outlay associated with the dividend is expected to be reduced by over $185 million per year.