Encana not for sale

Not for sale: Encana's acting chief executive has quelled rumours the company could be put up for sale

Canadian gas producer Encana has quashed speculation that the company may be up for sale following the unexpected retirement of its chief executive.

The appointment of an interim chief, Encana director Clayton Woitas, was seen by some analysts as a signal that the company could be put on the market.

Encana has massive natural-gas reserves from conventional and shale-gas fields which could attract international oil companies, but Woitas told Reuters the departure of Randy Eresman announced late on Friday was not a sign that the board would seek a buyer for the company.

"Encana is not up for sale," Woitas said in an interview with the news agency.

Eresman, who led the Calgary, Alberta-based company for seven…

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