Canadian oil and gas producer helped by a cost-cutting drive
Canadian oil and gas producer Encana Corp. (TSE:ECA) reported an unexpected quarterly operating profit, helped by a cost-cutting drive, and said it would raise its 2016 capital expenditure program.
Cost cuts helped the company post an operating profit, which excludes most one-time items, of $89 million, or 10 cents per shares, in the second quarter, compared with a loss of $167 million, or 20 cents per share, a year earlier.
Read the full article at: ca.finance.yahoo.com
