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Reuters reports that Encana Corp’s (TSE:ECA) shares surged 5 percent on Thursday as investors wagered its C$5.4 billion ($5.4 billion) gas deal with PetroChina would boost profits and lead to a string of similar ventures.
Reuters reports that Encana Corp’s (TSX:ECA) shares surged 5 percent on Thursday as investors wagered its C$5.4 billion ($5.4 billion) gas deal with PetroChina would boost profits and lead to a string of similar ventures.
The market news is quoted as saying:
Encana, Canada’s largest natural gas producer, is selling half of its holdings in the prolific Cutbank Ridge shale gas region of northeastern British Columbia to the state-owned energy company.