Encana to Provide Update on Strategy Development Process at Barclays CEO Energy-Power Conference

Encana

President & CEO Doug Suttles will provide an update on the company's strategy development process today at the Barclays CEO Energy-Power Conference in New York City.Encana engaged internal and external advisory teams to conduct a rigorous assessment of the company's assets and identify the company's strengths and challenges to inform the strategy development process."Initial insights from the independent research combined with our internal analysis showed that Encana's strengths include our vast amount of resources, our robust knowledge of market fundamentals and a proven ability to develop and operate plays very cost-effectively relative to our industry peers," says Suttles.In particular, the assessments found that Encana is excellent in the development of very large scale and complex resource reservoirs.The assessments also identified several areas where significant changes are required to be successful. Encana has more inventory in its portfolio of plays, particularly dry natural gas, than can be optimally developed. The company must focus its portfolio and concentrate capital in the assets that leverage its strengths and generate the strongest returns. Further, the organizational structure must be fully aligned with the strategy going forward."The resounding message I have received from our shareholders