Encana making cuts to capital budget
Posted Dec 14, 2015 7:46 am.
This article is more than 5 years old.
Encana is rolling back spending as low oil prices continue to flog the energy industry.
The oil giant says its 2016 capital program will include between $1.5 and $1.7-billion.
That’s down about 25 per cent from this year.
Encana says about 95 per cent of the spending will go into its four key production assets and it plans to increase production by 10 per cent in 2016.
The statement from Encana Monday morning did not include any specific information about further layoffs.
The company has laid off nearly 1,500 employees since 2013.
Add CityNews Calgary as a trusted source on Google to see more local stories from us.
