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Thursday, September 15, 2011

Feature-Encana's moves to weather weak gas prices, (TSE: ECA), (TSE: CVE)

Encana Corp (ECA.TO) has struck several deals in the past two years, many designed to help Canada's largest gas producer maintain production growth and keep debt in check while gas prices languish. Here is a list of transactions since November 2009, when Encana spun off its oil sands assets into Cenovus Energy Inc (CVE.TO) so it could concentrate on gas resource plays. 2011 Sept 7 - Sells gas-gathering and processing assets in the Piceance region of in Colorado to a private company for $590 million. Aug 25 - Begins process to sell its Barnett Shale assets in north Texas, which produce 125 million cubic feet a day. Analysts peg value at more than $800 million.

Shares of ECA traded higher by 2.13% or $0.5/share to $23.95. In the past year, the shares have traded as low as $22.31 and as high as $35.22. On average, 4774790 shares of ECA exchange hands on a given day and today's volume is recorded at 2317305.

Shares of CVE traded higher by 4.03% or $1.34/share to $34.60. In the past year, the shares have traded as low as $26.66 and as high as $40.73. On average, 1703970 shares of CVE exchange hands on a given day and today's volume is recorded at 1052518.



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