Encana's operating profit nearly doubles

Wed Nov 12, 2014 6:14am EST
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Nov 12 (Reuters) - Encana Corp, Canada's largest natural-gas producer, said its quarterly operating profit jumped 87 percent due to higher production of oil and natural gas liquids.

The company's operating profit, excluding most one-time items, rose to $281 million, or 38 cents per share, in the third quarter ended Sept. 30 from $150 million, or 20 cents per share, a year earlier.

Encana, which is restructuring to end its reliance on low-value natural gas, said net income attributable to common shareholders increased to $2.81 billion from $188 million, mainly due to a gain of $2.4 billion related to divestitures. (Reporting by Ashutosh Pandey in Bangalore and Nia Williams in Calgary; Editing by Joyjeet Das)