Encana keeps pumping

Article Excerpt

ENCANA CORP. $11.63 (Toronto symbol ECA; Shares outstanding: 973.1 million; Market cap: $11.3 billion; TSINetwork Rating: Average; Dividend yield: 0.7%; www.encana.com) has four key properties: Montney (B.C.), Duvernay (Alberta), and Eagle Ford and Permian (both in Texas). In addition to natural gas, these fields produce large amounts of oil and natural gas liquids such as propane and butane. So far, Encana has maintained production at its Texas operations despite the heavy rains and flooding caused by Hurricane Harvey. In the second quarter of 2017, those properties produced an average of 77,000 barrels a day. That represents 24% of the company’s total production of 316,000 barrels a day. However, the hurricane has disrupted pipelines, refineries and ports in Texas and Louisiana. That could eventually force Encana to slow production until those facilities resume normal operations. Encana is still a hold. hold…