Patience is key here.....Encana is probably one of the few companies who are headed in the right direction. The decision to move ops from Canada to the US was a smart and.....a real guttsy move. It takes a lot of fortitude with a keen sense of foresight to recognize when things aren't going right but to also make the NECESSARY adjustments to improve the overall outlook for the company. Investors have to undertstand the risk they took and the extreme undertaking that is required to see it through to completetion. Once all the pieces are in place, patient and loyal investors will be greatly rewarded. As things currently stood, with the political & economical evironment including the overal sentiment in and towards the Canadian oil patch, the atmosphere was (is) very dire and no resolution was forseable to alleviate the situation. Imo, to NOT have taken action would have been a greater injustice to shareholders and ultimately would have led to the eventual demise of both the company and those who invested in it.
Once the move is complete and the company spinsoff, sells or divests the Canadian assets, which are a huge liability at this moment, the value will begin to show in the share price. From there, the company is more freely able to exploit its holdings in a more hospitable evrionment under more favorable conditions with access to unlimited capital markets to expand their operations.
Imo, the future looks very bright for Encana once all the pieces come together and i don't see any major obstacles..... except one. The only "possible" factor that could derail those plans is the 2020 US elections and Trump being defeated. If a Democrat like Warren or Sanders takes office, not only would it be a disaster for WHOLE North American O&G industry but everything would be off the table and up in the air..............everywhere.
I'm not a holder of Encana stock at ths time, but if one were to be invested in a Canadian producer, this is probably the best bet or at least one that will survive.
Good luck to all...