U.S. SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For January 15, 2015
Commission File Number: 1-15226
ENCANA
CORPORATION
(Translation of registrants name into English)
Suite 4400, 500 Centre Street SE
PO Box 2850
Calgary,
Alberta, Canada T2P 2S5
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form
20-F ¨ Form 40-F þ
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(7): ¨
DOCUMENTS FILED AS PART OF THIS FORM 6-K
See the Exhibit Index to this Form 6-K.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: January 15, 2015
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ENCANA CORPORATION |
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(Registrant) |
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By: |
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/s/ |
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Dawna I. Gibb |
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Name: |
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Dawna I. Gibb |
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Title: |
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Assistant Corporate Secretary |
Form 6-K Exhibit Index
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Exhibit No. |
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99.1 |
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News release dated January 15, 2015:
Encana completes sale of its Clearwater assets for C$605 million |
EXHIBIT 99.1
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news release |
Encana completes sale of its Clearwater assets for C$605 million
Calgary, Alberta (January 15, 2015) TSX, NYSE: ECA
Encana Corporation (Encana) has completed the previously announced sale of certain Clearwater assets in Alberta to Ember Resources Inc. for a purchase price
of approximately C$605 million. The sale includes about 1.2 million net acres of land, over 6,800 producing wells and approximately 180 million cubic feet equivalent per day (mmcfe/d) of natural gas production.
We enter 2015 focused on furthering our strategy and protecting our balance sheet with plans to not add any incremental debt through the year,
said Sherri Brillon, Encanas Chief Financial Officer. With the closure of this sale, along with expected proceeds from our recently-announced Montney midstream agreement, we continue to competitively position ourselves to thrive
throughout the commodity price cycle.
Encana retains approximately 1.1 million net acres in Clearwater, including approximately 480,000 net
acres along the eastern edge of the Horseshoe Canyon Fairway.
Encana Corporation
Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through
its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs). By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates.
Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.
ADVISORY REGARDING FORWARD-LOOKING STATEMENTSIn the
interests of providing Encana shareholders and potential investors with information regarding Encana, including managements assessment of Encanas and its subsidiaries future plans and operations, certain statements contained in
this news release are forward-looking statements or information within the meaning of applicable securities legislation, collectively referred to herein as forward-looking statements. Forward-looking statements in this news release
include, but are not limited to: the companys intention not to add incremental debt during 2015; anticipated proceeds from the recently announced Montney midstream agreement; and the companys anticipated ability to thrive throughout the
commodity price cycle.
Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans,
intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that
the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the companys actual performance and financial results in future periods to differ materially from any estimates or projections of
future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: volatility of, and assumptions regarding natural gas, oil and liquids prices, including
substantial or extended decline of the same and their adverse effect on the companys operations and financial condition and the value and amount of its reserves; risk that the company may not conclude divestitures of certain assets or other
transactions or receive amounts contemplated under the transaction agreements (such transactions may include third-party capital investments, farm-outs or partnerships, which Encana may refer to from time to time as partnerships or
joint ventures and the funds received in respect thereof which Encana may refer to from time to time as proceeds, deferred purchase price and/or carry capital, regardless of the legal form) as a result
of various conditions not being met; product supply and demand; market competition; risks inherent in the companys and its subsidiaries marketing operations, including credit risks; imprecision of reserves estimates and estimates of
recoverable quantities of natural gas and liquids from resource plays and other sources not currently classified as proved, probable or possible reserves or economic contingent resources, including future net revenue estimates; business interruption
and casualty losses; counterparty risk; liability for indemnification obligations to third parties; changes in royalty, tax, environmental, greenhouse gas, carbon, accounting and other laws or regulations or the interpretations of such laws or
regulations; political and economic conditions in the countries in which the company operates; terrorist threats; risks associated with existing and potential future lawsuits and regulatory actions made against the company; and other risks and
uncertainties described from time to time in the reports and filings made with securities regulatory authorities by Encana. Although Encana believes that the expectations represented by such forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list of important factors is not exhaustive. In addition, assumptions relating to such forward-looking statements generally include Encanas
current expectations and projections made in light of, and generally consistent with, its historical experience and its perception of historical trends, including the conversion of resources into reserves and production as well as expectations
regarding rates of advancement and innovation, generally consistent with and informed by its past experience, all of which are subject to the risk factors identified elsewhere in this news release.
Forward-looking information respecting anticipated 2015 cash flow for Encana is based upon, among other things,
achieving average production for 2015 of between 1.60 Bcf/d and 1.70 Bcf/d of natural gas and 140,000 bbls/d to 160,000 bbls/d of liquids, commodity prices for natural gas and liquids based on NYMEX $4.00 per MMBtu, AECO C$3.67 per GJ and WTI of $70
per bbl, an estimated U.S./Canadian dollar exchange rate of $0.87 and a weighted average number of outstanding shares for Encana of approximately 741 million.
Furthermore, the forward-looking statements contained in this news release are made as of the date hereof and, except as required by law, Encana undertakes no
obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary
statement
Further information on Encana Corporation is available on the companys website, www.encana.com, or by contacting:
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Investor contact: |
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Media contact: |
Brian Dutton |
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Jay Averill |
Director, Investor Relations |
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Director, Media Relations |
(403) 645-2285 |
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(403) 645-4747 |
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Patti Posadowski |
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Doug McIntyre |
Sr. Advisor, Investor Relations |
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Media Relations |
(403) 645-2252 |
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(403) 645-6553 |
SOURCE: Encana Corporation
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