RE:Encana reports loss
Did you expect a profit ?
They weathered the worst downturn in Oil since they have been in business and they posted a loss.
I think the street was expecting a little less of a loss but honestly. The street knows nothing.
Cost cutting measures, buying back debt, working up best ( lower cost) assets and hedging production. Not much else, one can do to stay in business and frankly, impressive.
Encana is geared to make money at this level ( Mid 40's WTI) with hedging and can grow production once Oil prices recover more. Actually they are growing production but prices really sucked the first 1/4
Many companies cut costs, but many did not grow production and buy back debt.
Encana is in for the long haul and done very well..........
What will the price do ? Who knows, some say buy, some say sell.
I bought for the longer term because of management and the way they dealt with this.
The next few 1/4 will be very interesting if WTI holds here and Encana keeps production growing on the lower cost wells.
I would say, not bad considering, others were not able to attain what they have .,....