Encana in red

by on July 25, 2012 11:33 am BST

The Canadian giant posted a loss of $1.48 billion in the
three months to the end of June as against $383 million of profit in the
comparable period a year earlier.

Encana did not provide a full profit and loss account but
said it made an unrelaised hedging loss of $547 million and booked impairments
of $1.7 billion.

It also ran up a non-operating foreign exchange loss of $90

Natural gas production slumped 15% to 2.8 billion cubic feet
per day while Encana realised gas and liquids prices were also down.