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Posted AT 7:42 AM EDT on 24/07/08

EnCana earnings drop 16 per cent

Reuters

CALGARY — EnCana Corp said Thursday its second-quarter fell 16 per cent due mostly to a $235-million after-tax loss related to risk management activities, but boosted its 2008 cash flow outlook, buoyed by soaring natural gas production. EnCana, which is preparing to split into two separate oil and gas producers, earned $1.22-billion, or $1.63 a share for the quarter ended June 30, down from year-earlier $1.45-billion, or $1.89 a share.

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