Canadian energy producer Encana Corp. (ECA.TO, ECA) posted a narrower fourth-quarter net loss of $80 million, compared with a $476 million loss a year before. Excluding items, operating earnings totaled $296 million, or $0.40 per share, up from the prior-year quarter's $232 million, or $0.31 per share.
On average, 12 analysts polled by Thomson Reuters expected earnings per share of $0.33 for the quarter. Analysts' estimates typically exclude one-time items.
In the 2012 fourth quarter, Encana averaged 36,200 barrels per day or bbls/d of liquids production and 2.9 billion cubic feet per day or Bcf/d of natural gas production.
Looking ahead, Encana expects its oil and natural gas liquids production in 2013 to be between 50,000 to 60,000 bbls/d, and annualized natural gas production is expected to remain near current levels ranging between 2.8 to 3.0 Bcf/d.
Further, Encana's board has declared a quarterly dividend of 20 cents per share, payable on March 28, 2013 to common shareholders of record as of March 15, 2013.
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