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UPDATE 1-Canada's Encana cuts 2016 capex by more than a quarter

2015-12-14 13:52:33| Oil & Gas - Topix.net

Dec 14 Canadian oil and natural gas producer Encana Corp , responding to a sharp drop in oil prices, has cut its 2016 capital budget by more than a quarter to $1.5-$1.7 billion. The Calgary-based oil producer, which has accelerated its spending in the Permian basin in Texas, said it would direct about half of its capital budget for the next year to Permian.

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