EnCana Turns To Profit In Q3; Expects To Meet Or Exceed FY16 View - Quick Facts

(RTTNews) - EnCana (ECA, ECA.TO) Thursday said it remains on target to meet or exceed its 2016 guidance.

In its third quarter, net earnings were $317 million or $0.37 per share, compared to last year's loss of $1.24 billion.

Operating earnings were $32 million or $0.04 per share, compared to loss of $24 million or $0.03 per share a year ago.

On average, 17 analysts polled by Thomson Reuters expected loss of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

The company generated cash flow of $252 million or $0.29 per share, compared to prior year's $371 million or $0.44 per share.

The company's core four assets contributed 104,500 bbls/d, or 89 percent, of third quarter liquids production and 830 MMcf/d, or 63 percent, of third quarter natural gas production.

Total liquids production averaged 117,000 bbls/d, down 17 percent from last year. Natural gas production averaged 1,326 Mmcf/d, down 14 percent from the previous year. Combined production from the core four assets was 242,800 BOE/d, representing more than 70 percent of the company's total 338,000 BOE/d production.

On November 2, the Board declared a dividend of $0.015 per share payable on December 30, 2016 to common shareholders of record as of December 15, 2016.