EPA rethink helps Encana

Article Excerpt

ENCANA CORP. $18.92 (Toronto symbol ECA; Shares outstanding: 735.4 million; Market cap: $13.9 billion; TSINetwork Rating: Average; Dividend yield: 4.3%; www.encana.com) uses hydraulic fracturing, or fracking, to recover natural gas from shale deposits. This process involves pumping a mix of water, chemicals and other materials into the shale formations. This fractures the rock and releases the gas. In December 2011, the U.S. Environmental Protection Agency (EPA) published a draft report that claimed fracking chemicals at Encana’s Wyoming well contaminated local drinking water. However, Encana disputes the findings. This week, the EPA announced that it would re-test the area’s aquifer as part of a larger study that it is conducting on the impact of fracking on drinking water. Encana is a buy. buy…

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