(In U.S. dollars)
NEW YORK, April 22 (Reuters) - EnCana Corp’s (ECA.TO), Canada’s biggest oil and gas company, said on Tuesday first-quarter net profit fell 81 percent, as it suffered a $737 million loss on risk management activities.
EnCana, known for its natural gas operations in Canada and the United States as well as its oil sands business, earned $93 million, or 12 cents a share, down from $497 million, or 64 cents a share, a year earlier.
Excluding the risk management loss and a foreign exchange loss, operating earnings rose 28 percent to $1 billion, or $1.39 per share, helped by rising natural gas and liquids production and higher commodity prices. (Reporting by Christopher Kaufman; Editing by Derek Caney)