The International Monetary Fund expects Saudi Arabia’s oil gross domestic product (GDP) to fall by 1.9 percent this year as the OPEC leader commits to implementing the bloc’s production cuts. The oil production cuts are affecting overall real GDP growth as well, which the IMP expects to be “close to zero”. Non-oil GDP growth will hover around 1.7 percent and accelerate in the medium term as structural reforms promised in the Vision 2030 agenda began to take shape. “Fiscal consolidation efforts are beginning to bear…
Helped by production growth and lower costs, Canada’s oil and gas producer Encana Corp (NYSE:ECA) returned to a net profit in the second quarter and revised upward its production guidance for its four core assets in North America. Encana reported on Friday net earnings of US$331 million compared to a loss of US$601 million in the second quarter last year, easily beating analyst forecasts. Production from the core assets—the Permian and the Eagle Ford in the U.S. and the Montney and Duvernay shale plays in Canada – increased by…
Zacks Industry Outlook Highlights: ExxonMobil, Chevron, Rice Energy, WPX Energy and Encana
Improvement in the top line, successful cost cutting initiatives and higher realized prices resulted in Encana's (ECA) better-than-expected earnings in Q2.
Encana (ECA) delivered stronger than expected results this earnings season owing to reduced costs and higher realized prices.
We are expecting the oil/energy sector to see strong year-over-year earnings growth on Q2.
Encana's (ECA) strategy to focus on core shale plays including the development practices implemented in the Permian Basin are likely to play a key role in second-quarter 2017 earnings.
Shares Cenovus Energy Inc (CVE) fell 8.6% to eventually close at $7.12 on Jun 20 amid the announcement of the retirement of the company's CEO along with the much criticized deal with ConocoPhillips.
The Zacks Analyst Blog Highlights: SemGroup, Encana, Centrica, Eni SpA and Petrobras
It was a week where oil prices dropped to the lowest close since May 4 amid a bearish inventory data, while supportive weather forecasts pushed natural gas futures higher.
Encana Corporation (ECA) recently clinched a $735 million deal to offload assets in the Piceance Basin on Colorado's Western Slope.
Caerus Oil & Gas LLC, Denver, has agreed to acquire gas assets in the Piceance basin of northwestern Colorado from Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Calgary-based Encana Corp., for $735 million in cash.