EnCana Updates 2016 Production Outlook; To Outline Five-year Growth Potential

(RTTNews) - EnCana (ECA, ECA.TO) said that its President and CEO Doug Suttles along with members of the executive and management teams will outline the company's five-year, quality growth plan at today's Investor Day being held in New York City.

Encana said it will outline its focus on growing value over the next five years, including a potential 300 percent increase in cash flow, a doubling of corporate margins, a 60 percent increase in total production and achieving a balanced production mix of oil and liquids and natural gas.

The company has access to over $5 billion in liquidity, a robust hedging program and a 100 percent short-cycle capital program. The presentation will also highlight Encana's culture of innovation and efficiency.

Encana has updated its 2016 outlook to reflect a further reduction in production, mineral and other taxes, operating expense and transportation and processing costs. The company noted that this has delivered total additional savings of $50 million.

The company now projects 2016 total production of 340 MBOE/d to 360 MBOE/d and capital investment of C$1.1 billion to C$1.2 billion.