09:55 AM EST - EnCana Corp. : EnCana Corp. announced that its first quarter net earnings increased to $962 million U.S. or $1.28 U.S. per share, from $93 million U.S. or $0.12 U.S. per share in the year-ago quarter. Operating earnings for the quarter was $948 million U.S. or $1.26 U.S. per share, compared to $1.05 billion U.S. or $1.39 U.S. per share in the year ago quarter. Cash flow for the quarter was $1.94 billion U.S. or $2.59 U.S. per share, down from $2.39 billion U.S. or $3.17 U.S. per share in the same quarter of last year. Revenues, net of royalties for the quarter was $4.61 billion U.S., down from $5.43 billion U.S. in the year-ago quarter. Before any price-related royalty impacts, EnCana expects 2009 production to be at levels similar to the volumes produced in 2008. EnCana Corp.
shares T.ECA are trading up $0.52 at $53.23.
