EnCana Corp: Key Developments
EnCana Corporation Appoints Sherri Brillon, As Chief Financial Officer-National Post
December 16, 2009 |
| National Post reported that EnCana Corporation announced the new executive team and appoints Sherri Brillon, as Executive Vice-President and Chief Financial Officer. |
EnCana Corporation Renews Normal Course Issuer Bid
December 9, 2009 |
| EnCana Corporation announced that it has received approval for renewal of the Company`s normal course issuer bid (NCIB) from the Toronto Stock Exchange (TSX). Under the renewed bid, EnCana Corporation may purchase for cancellation up to 37,500,000 of its common shares, representing about 5% of the approximately 751,276,027 common shares issued and outstanding as at November 30, 2009. EnCana plans to fund its share purchases under the renewed bid from cash, cash flow and the proceeds from potential dispositions. Purchases under the renewed NCIB may commence on December 14, 2009 and purchases of common shares may be made until December 13, 2010. |
EnCana Corporation Closes Transaction To Split Into Two Distinct And Independent Companies Cenovus Energy Inc. And EnCana Corporation
November 30, 2009 |
| EnCana Corporation announced that it has completed its transaction to split into two highly focused energy companies; Cenovus Energy Inc., an integrated oil company and EnCana Corporation, a pure play natural gas company. On November 25, 2009 shareholders voted more than 99% in favour of the transaction and later that day the Court of Queen`s Bench of Alberta approved the transaction. Under the terms of the arrangement, common shareholders of EnCana will own one new EnCana common share (which will continue to be represented by existing EnCana common share certificates) and will receive one common share of Cenovus for each EnCana common share held on December 7, 2009, the anticipated distribution record date. The last day of when issued trading on the Toronto Stock Exchange (TSX) will be December 2, 2009 and December 8, 2009 on the New York Stock Exchange. Cenovus and post-split EnCana shares will begin regular trading on the Toronto Stock Exchange on December 3, 2009 and on the New York Stock Exchange on December 9, 2009 under the symbols CVE and ECA, respectively. |
EnCana Corporation Announces $39 Billion Gain From Cenovus Spinoff
November 23, 2009 |
| EnCana Corporation announced that it is to spinoff its subsidiary Cenovus, which accounts for 55% of its revenues. |
Suncor Energy Inc. and EnCana Corporation Look To Sell Assets-Reuters
October 5, 2009 |
| Reuters reported that Suncor Energy Inc. and EnCana Corporation plan on shedding non-core assets as part of their plan to concentrate on their oil sands operations, the Globe and Mail said, citing investment sources. The paper said Suncor, Canada's energy company, is looking to shed 400 million cubic feet of natural gas production, estimated at CAD2 billion ($1.85 billion), following its takeover of Petro-Canada. EnCana is looking to offload an annual CAD500 million in gas assets over the next few years from its subsidiary Cenovus Energy Inc, the paper added. |
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