Bleak Earnings Behind, Encana Focuses on Bright Liquids Futurehttp://www.fool.com/investing/general/2012/02/21/bleak-earnings-behind-encana-focuses-on-bright-liq.aspx Aimee Duffy
February 21, 2012
There wasn't too much surprise when Encana (NYSE: ECA ) released earnings last week. We were all waiting to hear how badly the company, one of the top five natural gas producers in the U.S., had been crushed by bottom-dwelling methane prices in 2011. Earnings weren't great, but Encana did make a few important announcements that should bode well for the future.
But, there were some positive signs, too. The fourth-quarter loss wasn't as bad as last year's fourth-quarter loss of $469 million. The company also made an important $515 million investment in liquids-rich properties, and divested $2.1 billion worth of assets. The move towards liquids is crucial if Encana plans to make any money in 2012. With that, let's take a look at the company's plan for the coming months.