Encana Corporation (NYSE, TSX: ECA) announced today they have completed a previously announced series of reorganization transactions (collectively, the "Reorganization"), resulting in the company: (i) establishing its corporate domicile in the U.S.; (ii) rebranding under the name Ovintiv Inc. ("Ovintiv"); and (iii) completing a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana. The Company received very strong securityholder support with more than 90% of votes cast in favor of the Reorganization.

Ovintiv Inc. (NYSE, TSX: OVV) released materials associated with its Anadarko Day conference call and webcast, planned for today at 2:30 p.m. MT (4:30 p.m. ET). In addition, initial operating results for 2019 were disclosed with the Company exceeding guidance expectations.

Ovintiv Inc. (NYSE, TSX: OVV) today announced its fourth quarter and full-year 2019 financial and operating results, which exceeded consensus estimates. The Company also announced its 2020 Outlook with capital investments expected to decrease about $175 million from the prior year on a proforma basis. The outlook is expected to generate the Company's third consecutive year of significant non-GAAP free cash flow and grow crude oil and condensate production by 4%. The 2020 investment program is aligned with Ovintiv's strategy to grow long-term stockholder value through disciplined capital investments, a return of cash to stockholders and profitable liquids growth.

The company said 90% of the shareholders voted in favor of the company moving its domicile to the United States and rebranding to Ovintiv Inc. Investor Letko, Brosseau & Associates Inc, which owns about 4% stake in Encana, had said in November it will vote against the company's proposed exit from Canada, saying the move would cause significant losses for Canadian shareholders.

Encana (OVV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Encana (OVV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

As far as earnings surprises are concerned, Ovintiv (OVV) has an excellent record, having gone past the Zacks Consensus Estimate in each of the last four reports.

Is Ovintiv Inc. (TSE:OVV) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can...

CALGARY , Jan. 17, 2020 /CNW/ - Encana Corporation (NYSE, TSX: ECA) today announced that the Court of Queen's Bench of Alberta has granted a final order approving the previously announced plan of arrangement, which forms part of a series of proposed reorganization transactions (collectively, the "Reorganization"), in order for the company to: (i) establish its corporate domicile in the U.S.; (ii) rebrand under the name Ovintiv Inc. ("Ovintiv"); and (iii) complete a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana. Further information regarding the Reorganization is provided in Encana's proxy statement/management information circular and prospectus dated December 11, 2019 .

CALGARY , Jan. 14, 2020 /CNW/ - Encana Corporation (NYSE, TSX: ECA) today announced that its securityholders voted in support of the reorganization resolution, in order to: (i) establish the company's corporate domicile in the U.S.; (ii) rebrand under the name Ovintiv Inc. ("Ovintiv"); and (iii) complete a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana.

Encana Provides Details on its Upcoming Anadarko Basin Conference Call and Webcast

Denver’s newest name in oil and gas starts the year on a roll and with new status as one of the largest independent producers in the country. Ovintiv Inc. (NYSE: OVV), formerly called Encana and based in Calgary, Canada, notched 9% oil and liquids production growth last year after acquiring a Texas oil and gas producer, and it boasts of having its third consecutive year of free cash flow despite lower oil and gas prices. The diversity of oil basins in which it operates and its experience in unconventional drilling and production now comes with a scale ranking it among the largest independent oil producers in the U.S. “We believe this gives us an advantage and ability to manage the volatility of our sector,” said CEO Doug Suttles.

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Encana Corp. won investors approval to relocate to the U.S. and change its name to Ovintiv, a plan that has dented morale in Canada's beleaguered energy industry.

Moody's Investors Service (Moody's) assigned ratings to Ovintiv Inc. (Ovintiv) consisting of a Ba1 corporate family rating (CFR), Ba1-PD probability of default rating (PDR), a Not Prime commercial paper program ($1.5 billion) rating, and a SGL-2 speculative grade liquidity rating. The senior unsecured notes issued by Encana Corporation (now renamed Ovintiv Canada ULC) were affirmed at Ba1. The notes have been legally assumed by Ovintiv Inc. and will be transferred to Ovintiv Inc. on the next business day.

Before its name change, the Canada-listed shares of EnCana had been falling for a decade.

Through this restructuring, Encana (ECA) will effectively exchange Ovintiv's one share of common stock for every five common shares of Encana.

Encana (OVV) closed the most recent trading day at $16.43, moving +0.37% from the previous trading session.

Company recently changed its name amid reorganization Continue reading...

Potential Ovintiv Inc. (TSE:OVV) shareholders may wish to note that insider Thomas Ricks recently bought CA$325k worth...