January 5, 2011 / 10:31 PM / 7 years ago

Encana to lower spending as gas price languishes

(In U.S. dollars)

SAN FRANCISCO, Jan 5 (Reuters) - Encana Corp ECA.TO, North America’s second-largest natural gas producer, will spend less money on operations in 2011 as prices for the fuel remain weak, the head of the company’s U.S. operations said on Wednesday.

Encana has yet to announce its capital spending budget, but Jeff Wojahn, president of the company’s USA division, told a conference in San Francisco he expects a range of $4 billion to $4.5 billion with the expectation that production will increase in the single-digit percentage range. (Reporting by Braden Reddall, writing by Jeffrey Jones; editing by Peter Galloway)

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