Nov 1 (Reuters) - Encana Corp ECA.TO :
* ENCANA ANNOUNCES STRATEGIC COMBINATION WITH NEWFIELD EXPLORATION COMPANY; INTENDS TO RAISE DIVIDEND BY 25 PERCENT AND EXPAND ITS SHARE BUYBACK PROGRAM TO $1.5 BILLION, POST CLOSING
* ENCANA CORP - ALL-STOCK TRANSACTION VALUED AT APPROXIMATELY $5.5 BILLION
* ENCANA CORP - ENCANA WILL ASSUME $2.2 BILLION OF NEWFIELD NET DEBT
* ENCANA CORP - INTENDS TO RAISE DIVIDEND BY 25 PERCENT AND EXPAND SHARE BUYBACK PROGRAM TO $1.5 BILLION FOLLOWING CLOSING OF TRANSACTION
* ENCANA CORP - DEAL IMMEDIATELY ACCRETIVE TO KEY ELEMENTS OF ENCANA'S FIVE-YEAR PLAN INCLUDING NON-GAAP CASH FLOW PER SHARE
* ENCANA CORP - NEWFIELD SHAREHOLDERS WILL RECEIVE 2.6719 ENCANA COMMON SHARES FOR EACH SHARE OF NEWFIELD COMMON STOCK.
* ENCANA CORP - UPON COMPLETION OF TRANSACTION, ENCANA SHAREHOLDERS WILL OWN APPROXIMATELY 63.5 PERCENT OF COMBINED COMPANY
* ENCANA CORP - $250 MILLION OF EXPECTED ANNUAL SYNERGIES THROUGH GREATER SCALE, CUBE DEVELOPMENT AND OVERHEAD SAVINGS FROM DEAL
* ENCANA CORP - DEAL FUNDED WITH EXPECTED NON-GAAP FREE CASH FLOW AND CASH ON HAND
* ENCANA CORP - TWO DIRECTORS FROM NEWFIELD BOARD OF DIRECTORS WILL JOIN ENCANA BOARD UPON CLOSING.
* ENCANA CORP - NEWFIELD SHAREHOLDERS WILL RECEIVE 2.6719 ENCANA COMMON SHARES FOR EACH SHARE OF NEWFIELD COMMON STOCK
* ENCANA CORP - TRANSACTION IS EXPECTED TO CLOSE IN Q1 OF 2019.
* ENCANA CORP - FOLLOWING CLOSE OF TRANSACTION, ENCANA EXPECTS LIQUIDS PRODUCTION WILL CONTRIBUTE OVER 50% OF TOTAL COMPANY PRODUCTION
* ENCANA CORP - COMBINED PRO-FORMA Q3 2018 PRODUCTION IS AROUND 577,000 BOE/D.
* ENCANA CORP - TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY BOARD OF DIRECTORS OF BOTH ENCANA AND NEWFIELD.