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In November 2013, the company cut its dividend, announced layoffs of 20% of its employees, closure of its office in [[Plano, Texas]], and plans to sell assets and to found a separate company for its mineral rights and royalty interests across southern Alberta.<ref name="cbc" /> It planned to invest 75% of its 2014 capital budget into 5 projects: Projects in the [[Montney Formation]] and the [[Duvernay Formation]] in Alberta, the [[San Juan Basin]] in New Mexico, Louisiana's [[Tuscaloosa Marine Shale]], and the Denver-Julesburg Basin (DJ Basin) in northeast Colorado, Wyoming, and Nebraska.<ref name="cbc" /><ref>{{cite news |last1=Dawson |first1=Chester |last2=McKinnon |first2=Judy |date=November 5, 2013 |title=Encana to Cut Dividend, Jobs in Reorganization |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/encana-cuts-dividend-jobs-in-reorganization-1383654875 |url-access=subscription}}</ref>
On Thursday, 15 March 2018, Suttles announced to the company's staff that he would be relocating to Denver. He stated the move was due tofor personal reasons. When asked by journalists whether the president's move was an indication the company also would move to the United States, spokesman Simon Scott said "the answer to that is, absolutely not."<ref>Jeffrey Jones, "Encana CEO decamps for Denver, Calgary headquarters remains," ''Globe and Mail'' (17 March 2018), B2.</ref> In November 2018, Encana completed a US$5.5 billion deal to acquire [[Newfield Exploration]] of Houston. Before the acquisition, around 60 percent of Encana's production was in Canada; after the acquisition its production became around 60 per cent American.<ref>Olivia Pulsinelli and Greg Avery, "Encana to buy Texas company in multibillion-dollar deal," ''Denver Business Journal'' (7 November 2018).</ref> Gwyn Morgan provided a written statement about the deal that read, "I'm deeply saddened that, as a result of the disastrous policies of the Trudeau government, what was once the largest Canadian-headquartered energy producer now sees both its CEO and the core of its asset base located in the U.S."<ref>Kevin Orland, "Encana founder blames Trudeau," ''Toronto Star'' (6 November 2018), B3.</ref> In an editorial he wrote a two weeks later, he said that after stepping down as president in 2005, he "could never have imagined that, a dozen years later, the company would decide to export itself."<ref>Gwyn Morgan, "The tragic Americanization of Encana," ''Financial Post'' (21 November 2018), FP9.</ref> Meanwhile [[Ted Morton]] assessed the purchase, saying, "Encana's announcement that it was acquiring Texas-based Newfield Exploration may be good news for the Calgary-based company, but it is not good news for Canada. It is the most recent chapter in an unfolding story of capital flight from the Canadian energy sector."<ref>Ted Morton, "Another Canadian oil company flees Trudeau and Notley for the U.S." ''Whitecourt Star'' (28 November 2018), A12.</ref>
== Restructuring as Ovintiv ==
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