July 31, 2012
In today's video, analysts Paul Chi and Matt Argersinger discuss Encana, one of the largest natural gas producers in North America. Encana posted a quarterly loss for the second quarter, thanks to a writedown of $1.7 billion against net income. While the net income number looks ugly, this was a noncash charge that does not factor in future price appreciation of natural gas. Going forward, Encana is very much a liquids growth story. The company hopes to produce 60,000 to 70,000 barrels of liquids per day in 2013, which would help balance out its cash flows. The company is on the right track, but it's a long road ahead before some of these plays are in developmental mode.
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