May 3, 2016 / 10:22 AM / a year ago

BRIEF-Encana Q1 operating loss of $0.15 per share

May 3 (Reuters) - Encana Corporation

* Company on track to meet or beat 2016 guidance announced in february

* On track to deliver $550 million in year-over-year cost savings

* Encana corporation qtrly total production of 383,400 barrels of oil equivalent per day (boe/d)

* Encana corporation qtrly core four assets contributed 269,100 boe/d, or 70 percent of total production

* Q1 operating loss of $0.15 per share

* Company is on track to deliver $550 million in year-over-year cost efficiencies in 2016

* As at april 26, 2016, co hedged about 75 percent of expected 2016 oil and condensate production and 85 percent of expected natural gas production

* On may 2, 2016, board declared a dividend of $0.015 per share payable on june 30, 2016

* During quarter, encana lowered its general and administrative expense by over 20 percent compared to previous quarter

* Expects full-year benefit of year-over-year cost efficiencies will be even greater in 2017

* Q1 earnings per share view $-0.13 -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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