Energy for economic growth, North American for security, and clean for our well-being are readily available cheap in the stock of buy-recommended Encana (NYSE: ECA – News), the continent’s largest independent producer concentrated on natural gas.
The company’s positive financial record continues with real growth of 15% a year for the past eight quarters (see Oil and Natural Gas Volume per Share Adjusted for Debt chart below). Volume grew further and shares outstanding declined further in the fourth quarter of 2006, reported on February 15.
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Estimated net present value [NPV] of $65 a share is concentrated 73% on natural gas and 27% on oil and oil sands. A new Integrated Oil Sands Partnership formed with buy-recommended ConocoPhillips (NYSE: COP – News) as of January 2, 2007, producing refined liquid products from North American oil, is growing toward 400,000 barrels daily by 2014. We favor ECA stock at a double weighting in our illustrative energy portfolio, concentrated on real assets that promise a high return providing clean energy for global growth.
ECA 1-yr chart
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