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EnCana Loses Another 2% - Plan to Boost Production Adds to Concerns Over NatGas Demand

EnCana Corp. (ECA.TO) continues to lose ground, falling another 2% today after yesterday's 5% decline, fueled by the natural-gas supplier missing 2Q estimates by a wide mark Thursday morning.

ECA also may have spooked some traders by disclosing plans to boost daily production by 65 million cubic feet over the rest of the year to 3.365 billion cubic feet per day. Natgas prices already have been pressured for months on oversupply concerns although EnCana officials said they can pull back their production targets if demand remains slack.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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