Encana Plans Canadian Spinoff, Trims Workforce

Law360, Dallas (November 6, 2013, 7:05 PM EST) -- Encana Corp. on Tuesday said it would spin off a major Canadian land asset in a mid-2014 IPO and is making a major strategy shift to focus its capital on five core oil and liquids-rich assets while shedding 20 percent of its workforce and closing a Dallas-area location.

The company plans to retain a “significant stake” when it spins off a 5.2 million-acre mineral fee land interest known as the Clearwater play, in Alberta, Canada, president and CEO Doug Suttles told investors on a conference call...
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