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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.