Encana taking a page out of Chesapeake Energy's book, as Canada's largest natural gas company announced plans to reduce its workforce by 20%. With natural gas prices remaining depressed and no relief on the horizon, conserving cash is a top priority as both Encana and Chesapeake look to invest their cash in the highest ROI plays in their portfolios.
While Encana plans on trimming costs and focusing on 5 oil heavy plans in 2014, Chesapeake Energy is now two quarters into its restructuring plans. If Encana mimics Chesapeake's lead, shareholders could finally be in for some gains.
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