BUZZ-Encana Corp: Best day in 15 years on strong earnings

Wed Feb 24, 2016 10:41am EST
 
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** Canadian oil and gas producer's U.S.-listed shares up about 20 pct at $5.01; stock rises as much as 23.5 pct, recording best day in nearly 15 years

** Q4 operating profit handily beats analysts' estimates, helped by a rise in oil and natural gas liquids production

** Q4 earnings 13 cents/shr vs. est. 1 cent

** Cuts 2016 capex estimate to $900 mln-$1 bln from $1.5 bln-$1.7 bln

** To lay off 20 pct of its workforce in 2016

** Up to Tuesday's close, stock had fallen about 65 pct in the past 12 months