Encana Corp., a big Canadian oil and gas producer, said Tuesday it will cut about 20 percent of its jobs and close its new Plano offices, where about 500 people work for its Mid-Continent Business Unit. Encana moved into a 12-story office tower in late 2012. The company said it will consolidate its operations in Denver and in Calgary, its hometown. It has about 4,200 employees companywide.
New CEO Doug Suttles, installed in June, said the action "reflects our shift from funding about 30 different plays to focusing our resources on five key areas." Those areas are the D-J Basin in northern Colorado, the San Juan Basin in New Mexico and the Four Corners region, the Tuscaloosa Marine Shale in Louisiana and Mississippi, and fields in British Columbia and Alberta, Canada. Encana Oil & Gas, an early Barnett Shale producer, sold its Barnett properties to EnerVest Ltd. in late 2011.
-- Jim Fuquay