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Encana completes $1B common stock offering for Permian development

completed its $1billion public offeringof 107,000,000 common shares, the proceeds of which would be partly used tofund its 2017 capital program.

With halfof the proceeds allotted for the capital program, the rest would be used torepay outstanding borrowings under Encana's credit facilities, according to aSept. 23 news release.

The capitalprogram would be dedicated to growing the company's Permian production throughthe addition of rigs to roughly double the wells on stream in 2017 compared tothat of 2016, Encana said in the release.