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Encana Completes Cdn$1.25 Billion Equity Offering

Paul, Weiss client Encana Corporation, a leading North American energy producer, completed a public offering of 85,616,500 common shares in the United States and Canada for gross proceeds of approximately Cdn$1.25 billion. Encana, which is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and NGLs, will use the net proceeds of the offering to redeem its U.S. $700 million and U.S. $750 million long-term debt maturing in 2017 and 2018, respectively. The syndicate of underwriters was led by RBC Capital Markets, Credit Suisse and Scotiabank.

The Paul, Weiss team included corporate partner Andrew Foley; tax partner David Sicular; and environmental counsel William O'Brien.

March 16, 2015

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