Encana Corp. (TSX, NYSE: ECA) delivered strong financial results and operational performance in the first quarter of 2012 despite further downward pressure on natural gas prices. Cash flow of $1.0 billion, or $1.39 per share, was up 6% from the first quarter of 2011 supported by the company’s commodity price hedging program, which contributed $358 million in realized after-tax gains, or 49 cents per share. Operating earnings were $240 million, or 33 cents per share, up 10% year over year.

Increased liquids production from key resource plays

Encana is aggressively ...