EnCana Corporation reported today from Toronto, Canada that it is "tracking at the high end" of its projections for production and cash-flow for 2007 and is optimistic about its prospects for next year, a senior executive said Tuesday.
"We're going to generate a tremendous amount of free cash flow again this year, in the order of about $2.1 billion," Mike Graham, president of EnCana's Canadian Foothills Division, said at the Peters & Co. North American Oil & Gas Conference in Toronto.
He added that EnCana's management also expects 2008 to have free cash flow, which is the cash available from operations after current debt repayments.
The company has been using the free cash flow to continue to buy back stock and pay dividend
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