Jan 4 Canadian oil and natural gas producer
Encana Corp said on Wednesday it expects its margins in
2017 to exceed its previous target on lower costs and an
expected rise in output in the second half of this year.
The company also said it expects production from its core
assets to be in the upper range, or exceed its previous forecast
of 15-20 percent growth, between the fourth quarter of this year
and the corresponding period last year.
Encana has downsized operations to focus on four core North
American plays - the Montney and Duvernay in Western Canada, and
the Eagle Ford and Permian in the United States.
The company said it expects its corporate margin to be
above $10 per barrel of oil equivalent (boe) in 2017, higher
than the $8 per boe it had forecast at its investor day in
Encana is scheduled to report its fourth-quarter results and
2017 budget on Feb 16.
(Reporting by Arathy S Nair in Bengaluru; Editing by Shounak