Encana posts $331M US profit for Q2 as production growth surges

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Encana Corp. requires its core operations will grow their production even more than envisaged this year, following a strong second quarter that catalogued a $331 million US net profit.

The Calgary-based oil and gas producer, which reports in U.S. currency, discloses the profit amounted to 34 cents per share.

During last year’s defective quarter, Encana had a $601 million US net loss, equal to 71 cents per dispensation.

The company says it now expects 2017 production from its core operations wishes be between 25 and 30 per cent above last year’s fourth dwelling-place level.

Encana had previously estimated the production from core spies would grow 20 per cent or better.

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