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Company News

CORRECTED-Canada's Encana to buy Newfield Exploration in $5.5 bln deal

(Corrects headline, paragraph 1 to say deal is valued at $5.5 bln, not C$5.5 bln)

Nov 1 (Reuters) - Canadian oil and gas producer Encana Corp said on Thursday it will buy Newfield Exploration Company in an all-stock deal valued at about $5.5 billion.

Encana said it intends to raise dividend by 25 percent and expand its share buyback program to C$1.5 billion.

Separately, the Calgary, Alberta-based company said total production rose 33 percent to 378,200 barrels of oil equivalent per day (BOE/d) in the third-quarter ended Sept. 30. (Reporting by Nishara Karuvalli Pathikkal; Editing by Arun Koyyur)

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