EnCana CorporationECA

Morningstar Rating

Stock Research and Analysis

by Jennifer O'Connor

The recent spin-off of EnCana's integrated oil business into Cenovus Energy transforms EnCana into a pure-play natural gas company. We view the split as a positive move for EnCana; separation of the businesses should increase investor understanding Read more

Bulls Say

EnCana has done an excellent job of unlocking unconventional natural gas plays across North America.

Innovation at the company has improved drilling times, access to resources, and costs.

EnCana and its partner, Apache APA, are at the forefront of development of the Horn River Basin and are rapidly building out infrastructure to support production. Read more

Bears Say

Hefty up-front capital investment will be required at Horn River to build out infrastructure in the region.

EnCana's average price on its hedged natural gas production is significantly lower than 2009's price. Consequently, we expect lower average selling prices in 2010.

EnCana is planning to increase natural gas production during 2010 despite a fragile North American natural gas price market. Read more

Strategy

EnCana has set its sights on developing unconventional natural gas resource plays. These types of projects offer well-defined long-term growth, the potential to apply technological advances, and efficiencies Read more

Management

Since his appointment as COO at EnCana in 2002, Randy Eresman has been the driving force behind the firm's resource play strategy. In 2006, he assumed the mantle of president and CEO, the culmination of 25 years at the company. He is surrounded in the Read more

Profile

Even after splitting Cenovus from EnCana, EnCana remains among the largest independent producers in North America. Its core business is unconventional natural gas with its Read more

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