Encana Corp. (ECA-T 18.15 -1.33 -6.83%), Canada’s largest natural gas producer, said output of crude oil and natural gas liquids such as ethane and propane is expected to nearly double this year, helping the company reduce its dependence on low-margin natural gas.
The company plans to direct 80 percent of its capital budget this year towards drilling for oil and gas-liquids. It has a capital spending plan of $3 billion US to $3.2 billion for 2013. Gas production is expected to change little this year.
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