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An EnCana pump jack stands near Rockyford, Alberta, in this June 30, 2009 file photo.
An EnCana pump jack stands near Rockyford, Alberta, in this June 30, 2009 file photo.
(Todd Korol/Reuters)

Clearwater numbers lend credence to revival at Encana

The initial public offering of Encana Corp.’s Clearwater Royalty business may be worth much more than investors initially figured, according to a new assessment.

The spinoff of the unit, part of a major restructuring at Canada’s biggest gas producer, is aimed at raising capital for redeployment to other operations while allowing Encana to garner revenue through cash payouts to shareholders. It is expected by around the middle of the year.