U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For August 7, 2014

Commission File Number: 1-15226

ENCANA CORPORATION

(Translation of registrant’s name into English)

Suite 4400, 500 Centre Street SE

PO Box 2850

Calgary, Alberta, Canada T2P 2S5

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  ¨            Form 40-F  x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨

DOCUMENTS FILED AS PART OF THIS FORM 6-K

See the Exhibit Index to this Form 6-K.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 7, 2014

Form 6-K Exhibit Index

Exhibit 99.1

Rapid portfolio transition, robust liquids growth among highlights of Encana’s strong second quarter

Calgary, Alberta (July 24, 2014) TSX, NYSE: ECA

Encana’s strong second quarter of 2014 saw the company continue to make faster than expected progress in the execution of its strategy, with the reporting period highlighted by the acquisition of Eagle Ford assets for a sixth growth area, the highly successful initial public offering (IPO) of PrairieSky Royalty Ltd. (PrairieSky) and impressive liquids production growth.

“We had a strong second quarter off of the back of a very good first quarter, and we’re meeting or exceeding our targets in every area of our business since announcing our new strategy eight months ago,” says Doug Suttles, Encana’s President & CEO. “The divestitures that we executed over the past three months have unlocked value from our asset base and simplified our business model, allowing us to stay focused on our highest-value opportunities. This was complemented by strong operating performance that saw our teams deliver on liquids growth targets and achieve significant year-over-year cost savings.”

The company achieved strong second quarter liquids growth from the five growth areas identified in last November’s strategy launch. Oil production of 34,200 barrels per day (bbls/d) represented a 49 percent year-over-year increase, while 34,000 bbls/d of natural gas liquids production represented 38 percent growth. Year-to-date, the growth areas have received approximately 80 percent of Encana’s total capital investment and recorded a 50 percent increase in net wells drilled.

“We have been growing our liquids production more quickly than expected,” says Suttles. “We are making excellent progress in our growth areas while at the same time delivering stronger than expected results from our base assets. Our operational performance and continued attention to cost efficiencies are helping to drive us towards higher margins and more profitable growth.”

The transaction to acquire a sixth growth area in the Eagle Ford play closed on June 20, accelerating Encana’s liquids production growth as the south Texas-based play is projected to double the company’s current oil production. Natural gas production for the second quarter, meanwhile, was slightly over 2.5 billion cubic feet per day (Bcf/d), down eight percent on a year-over-year basis primarily due to recent divestitures of large natural gas-producing properties.

Encana generated cash flow of approximately $656 million or $0.89 per share in the second quarter of 2014; operating earnings of $171 million or $0.23 per share; and net earnings attributable to common shareholders of $271 million or $0.37 per share. Year-to-date, the company has reported cash flow of approximately $1.8 billion for a 41 percent rise year-over-year, while $686 million in operating earnings and $387 million in net earnings attributable to common shareholders are increases of 61 percent and 29 percent, respectively, from 2013 levels.

Encana continued to enhance its financial strength through a quarter of rapid portfolio transition. Proceeds received from the IPO and divestitures transactions, along with year-to-date free cash flow of approximately $679 million, contributed to a strong period-end balance of approximately $2.7 billion in cash and cash equivalents. As a result of the strong results achieved thus far in 2014, the company has increased its cash flow guidance from $2.9-$3.0 billion to $3.4-$3.6 billion. Encana has also increased its upstream capital investment guidance to $2.6-$2.7 billion, up from $2.3-$2.4 billion, largely attributable to the planned capital expenditures in the newly acquired Eagle Ford position.

Second quarter report

for the period ended June 30, 2014

The company also now expects 2014 total liquids production of 86,000 to 91,000 bbls/d, up from previous guidance projections of 68,000 to 73,000 bbls/d.

“We continue to successfully execute on our strategy and meet our key benchmarks,” says Suttles. “We are transitioning our portfolio while delivering strong operating performance and maintaining the balance sheet strength necessary for us to be opportunistic. Our second quarter results have us well positioned for further success in the second half of the year.”

The updated 2014 guidance can be downloaded from http://www.encana.com/investors/financial/corporate-guidance.html.

Activities in the quarter

Operational highlights

Second quarter report

for the period ended June 30, 2014

Encana added to its risk management program in the quarter

At June 30, 2014, Encana has hedged approximately 2,138 MMcf/d of expected July to December 2014 natural gas production at an average price of $4.17 per thousand cubic feet (Mcf) and approximately 825 MMcf/d of expected 2015 natural gas production at an average price of $4.37 per Mcf. In addition, Encana has hedged approximately 30.4 thousand barrels per day (Mbbls/d) of expected July to December 2014 oil production using WTI fixed price contracts at an average price of $97.34 per bbl.

Dividend declared

On July 23, 2014, the Board declared a dividend of $0.07 per share payable on September 30, 2014, to common shareholders of record as of September 15, 2014.

Second Quarter Highlights

Production Summary

Second Quarter Natural Gas and Liquids Prices

Second quarter report

for the period ended June 30, 2014

Encana Corporation

Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs). By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates. Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.

Important Information

Encana reports in U.S. dollars unless otherwise noted. Production, sales and reserves estimates are reported on an after-royalties basis, unless otherwise noted. Per share amounts for cash flow and earnings are on a diluted basis. The term liquids is used to represent oil, NGLs and condensate. The term liquids-rich is used to represent natural gas streams with associated liquids volumes. Unless otherwise specified or the context otherwise requires, reference to Encana or to the company includes reference to subsidiaries of and partnership interests held by Encana Corporation and its subsidiaries.

NOTE 1: Non-GAAP measures

This news release contains references to non-GAAP measures as follows:

These measures have been described and presented in this news release in order to provide shareholders and potential investors with additional information regarding Encana’s liquidity and its ability to generate funds to finance its operations.

ADVISORY REGARDING OIL AND GAS INFORMATION – Encana uses the term resource play. Resource play is a term used by Encana to describe an accumulation of hydrocarbons known to exist over a large areal expanse and/or thick vertical section, which when compared to a conventional play, typically has a lower geological and/or commercial development risk and lower average decline rate.

Initial production and short-term rates are not necessarily indicative of long-term performance or of ultimate recovery.

In this news release, certain oil and NGLs volumes have been converted to cubic feet equivalent (cfe) on the basis of one barrel (bbl) to six thousand cubic feet (Mcf). Cfe may be misleading, particularly if used in isolation. A conversion ratio of one bbl to six Mcf is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent value equivalency at the well head. Given that the value ratio based on the current price of oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

Second quarter report

for the period ended June 30, 2014

ADVISORY REGARDING FORWARD-LOOKING STATEMENTS – In the interests of providing Encana shareholders and potential investors with information regarding Encana, including management’s assessment of Encana’s and its subsidiaries’ future plans and operations, certain statements contained in this news release are forward-looking statements or information within the meaning of applicable securities legislation, collectively referred to herein as “forward- looking statements.” Forward-looking statements in this news release include, but are not limited to: achieving the company’s focus of developing its strong portfolio of resource plays producing natural gas, oil and NGLs; the company’s plan to continue to focus investment on a limited number of oil and liquids-rich plays; the company’s expectation to meet or exceed the targets in every area of the business; maintaining operational excellence, balance sheet strength and a balanced commodity portfolio; the company’s expectation to be well positioned for further success in the second half of the year; the accelerated transition to a more oil and liquids-based asset portfolio through recently announced transactions; the expectation that the Eagle Ford play will double the company’s current oil production; the company’s expectation to continue to successfully execute on its strategy and meet key benchmarks; the expected closing dates of the Bighorn and East Texas transactions and the expectation that any closing conditions will be satisfied and regulatory approvals will be obtained; the anticipated purchase price for the East Texas properties; anticipated drilling and number of rigs and the success thereof and anticipated production from wells (including in the DJ Basin, Montney, San Juan, Duvernay and Tuscaloosa Marine Shale growth areas); anticipated well costs; anticipated capital expenditures for 2014; anticipated cash flow for 2014; anticipated cost reductions; anticipated oil, natural gas and NGLs prices; anticipated dividends; and the expectation of meeting the targets in the company’s 2014 corporate guidance.

Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the company’s actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: volatility of, and assumptions regarding natural gas and liquids prices, including substantial or extended decline of the same and their adverse effect on the company’s operations and financial condition and the value and amount of its reserves; assumptions based upon the company’s current guidance; fluctuations in currency and interest rates; risk that the company may not conclude divestitures of certain assets or other transactions or receive amounts contemplated under the transaction agreements (such transactions may include third-party capital investments, farm-outs or partnerships, which Encana may refer to from time to time as “partnerships” or “joint ventures” and the funds received in respect thereof which Encana may refer to from time to time as “proceeds”, “deferred purchase price” and/or “carry capital”, regardless of the legal form) as a result of various conditions not being met; product supply and demand; market competition; risks inherent in the company’s and its subsidiaries’ marketing operations, including credit risks; imprecision of reserves estimates and estimates of recoverable quantities of natural gas and liquids from resource plays and other sources not currently classified as proved, probable or possible reserves or economic contingent resources, including future net revenue estimates; marketing margins; potential disruption or unexpected technical difficulties in developing new facilities; unexpected cost increases or technical difficulties in constructing or modifying processing facilities; risks associated with technology; the company’s ability to acquire or find additional reserves; hedging activities resulting in realized and unrealized losses; business interruption and casualty losses; risk of the company not operating all of its properties and assets; counterparty risk; risk of downgrade in credit rating and its adverse effects; liability for indemnification obligations to third parties; variability of dividends to be paid; its ability to generate sufficient cash flow from operations to meet its current and future obligations; its ability to access external sources of debt and equity capital; the timing and the costs of well and pipeline construction; the company’s ability to secure adequate product transportation; changes in royalty, tax, environmental, greenhouse gas, carbon, accounting and other laws or regulations or the interpretations of such laws or regulations; political and economic conditions in the countries in which the company operates; terrorist threats; risks associated with existing and potential future lawsuits and regulatory actions made against the company; risk arising from price basis differential; risk arising from inability to enter into attractive hedges to protect the company’s capital program; and other risks and uncertainties described from time to time in the reports and filings made with securities regulatory authorities by Encana. Although Encana believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations

Second quarter report

for the period ended June 30, 2014

will prove to be correct. Readers are cautioned that the foregoing list of important factors is not exhaustive. In addition, assumptions relating to such forward-looking statements generally include Encana’s current expectations and projections made in light of, and generally consistent with, its historical experience and its perception of historical trends, including the conversion of resources into reserves and production as well as expectations regarding rates of advancement and innovation, generally consistent with and informed by its past experience, all of which are subject to the risk factors identified elsewhere in this news release.

Assumptions with respect to forward-looking information regarding expanding Encana’s oil and NGLs production and extraction volumes are based on existing expansion of natural gas processing facilities in areas where Encana operates and the continued expansion and development of oil and NGL production from existing properties within its asset portfolio.

Forward-looking information respecting anticipated 2014 cash flow for Encana is based upon, among other things, achieving average production for 2014 of between 2.40 Bcf/d and 2.50 Bcf/d of natural gas and 86,000 bbls/d to 91,000 bbls/d of liquids, commodity prices for natural gas and liquids based on NYMEX $4.50 per MMBtu and WTI of $98 per bbl, an estimated U.S./Canadian dollar foreign exchange rate of $0.90 and a weighted average number of outstanding shares for Encana of approximately 741 million.

Furthermore, the forward-looking statements contained in this news release are made as of the date hereof and, except as required by law, Encana undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Second quarter report

for the period ended June 30, 2014

Management’s Discussion and Analysis

This Management’s Discussion and Analysis (“MD&A”) for Encana Corporation (“Encana” or the “Company”) should be read with the unaudited interim Condensed Consolidated Financial Statements for the period ended June 30, 2014 (“Interim Condensed Consolidated Financial Statements”), as well as the audited Consolidated Financial Statements and MD&A for the year ended December 31, 2013.

The Interim Condensed Consolidated Financial Statements and comparative information have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) and in U.S. dollars, except where another currency has been indicated. Production volumes are presented on an after royalties basis consistent with U.S. oil and gas reporting standards and the disclosure of U.S. oil and gas companies. The term “liquids” is used to represent oil, natural gas liquids (“NGLs”) and condensate. The term “liquids rich” is used to represent natural gas streams with associated liquids volumes. This document is dated July 23, 2014.

Certain measures in this document do not have any standardized meaning as prescribed by U.S. GAAP and, therefore, are considered non-GAAP measures. Non-GAAP measures are commonly used in the oil and gas industry and by Encana to provide shareholders and potential investors with additional information regarding the Company’s liquidity and its ability to generate funds to finance its operations. Non-GAAP measures include: Cash Flow; Operating Earnings; Revenues, Net of Royalties, Excluding Unrealized Hedging; Net Debt; Net Debt to Debt Adjusted Cash Flow; and Debt to Adjusted Capitalization. Further information regarding these measures can be found in the Non-GAAP Measures section of this MD&A, including reconciliations of Cash from Operating Activities to Cash Flow and of Net Earnings Attributable to Common Shareholders to Operating Earnings.

The following volumetric measures may be abbreviated throughout this MD&A: thousand cubic feet (“Mcf”); thousand cubic feet equivalent (“Mcfe”); million cubic feet (“MMcf”) per day (“MMcf/d”); million cubic feet equivalent per day (“MMcfe/d”); barrel (“bbl”); thousand barrels (“Mbbls”) per day (“Mbbls/d”); million British thermal units (“MMBtu”).

Readers should also read the Advisory section located at the end of this document, which provides information on Forward-Looking Statements, Oil and Gas Information and Currency and References to Encana.

Second quarter report

for the period ended June 30, 2014

Encana’s Strategic Objectives

Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays producing natural gas, oil and NGLs. Encana is committed to growing long-term shareholder value through a disciplined focus on generating profitable growth. The Company is pursuing the key business objectives of balancing its commodity mix, focusing capital investments in high return scalable projects, maintaining portfolio flexibility to respond to changing market conditions, maximizing profitability through operating efficiencies, reducing costs and preserving balance sheet strength.

Encana has a history of entering prospective plays early and leveraging technology to unlock resources and build the underlying productive capacity at a low cost. Encana continually strives to improve operating efficiencies, foster technological innovation and lower its cost structures, while reducing its environmental footprint through resource play optimization. The Company’s resource play hub model, which utilizes highly integrated production facilities, is used to develop resources by drilling multiple wells from central pad sites. Ongoing cost reductions are achieved through repeatable operations, optimizing equipment and processes, by applying continuous improvement techniques.

Encana hedges a portion of its expected natural gas and oil production volumes. The Company’s hedging program reduces volatility and helps sustain Cash Flow and netbacks during periods of lower prices. Further information on the Company’s commodity price positions as at June 30, 2014 can be found in the Results Overview section of this MD&A and in Note 20 to the Interim Condensed Consolidated Financial Statements.

Additional information on expected results can be found in Encana’s 2014 Corporate Guidance on the Company’s website www.encana.com.

Encana’s Business

There has been no significant change in reportable segments as a result of the business strategy announced in November 2013. Encana’s reportable segments are determined based on the Company’s operations and geographic locations as follows:

Corporate and Other mainly includes unrealized gains or losses recorded on derivative financial instruments. Once the instruments are settled, the realized gains and losses are recorded in the reporting segment to which the derivative instrument relates.

Second quarter report

for the period ended June 30, 2014

Results Overview

Highlights

In the three months ended June 30, 2014, Encana reported:

In the six months ended June 30, 2014, Encana reported:

Significant developments for the Company during the six months ended June 30, 2014 included the following:

Second quarter report

for the period ended June 30, 2014

As a result of the execution of the strategy announced in November 2013, the Company’s results for the six months ended June 30, 2014 reflected the following:

Second quarter report

for the period ended June 30, 2014

Summary of Quarterly Results

Encana’s quarterly net earnings can be significantly impacted by fluctuations in commodity prices, realized and unrealized hedging gains and losses, production volumes, foreign exchange rates and non-cash ceiling test impairments which are provided in the Summary of Quarterly Results table and Quarterly Prices and Foreign Exchange Rates table within this MD&A. Quarterly net earnings are also impacted by Encana’s interim income tax expense calculated using the estimated annual effective income tax rate and gains or losses on divestitures as discussed in the Other Operating Results section of this MD&A.

Three months ended June 30, 2014 versus June 30, 2013

Cash Flow of $656 million decreased $9 million in the three months ended June 30, 2014, primarily due to the following significant items:

Second quarter report

for the period ended June 30, 2014

Operating Earnings of $171 million decreased $76 million primarily due to the items discussed in the Cash Flow section. Operating Earnings for the second quarter of 2014 were also impacted by a foreign exchange loss on the revaluation of other monetary assets and liabilities.

Net Earnings Attributable to Common Shareholders of $271 million decreased $459 million primarily due to the items discussed in the Cash Flow and Operating Earnings sections. Net Earnings Attributable to Common Shareholders for the second quarter of 2014 were also impacted by lower unrealized hedging gains, an after-tax non-operating foreign exchange gain, a gain on divestitures and higher deferred tax.

Six months ended June 30, 2014 versus June 30, 2013

Cash Flow of $1,750 million increased $506 million in the six months ended June 30, 2014, primarily due to the following significant items:

Second quarter report

for the period ended June 30, 2014

Operating Earnings of $686 million increased $260 million primarily due to the items discussed in the Cash Flow section, partially offset by a foreign exchange loss on the revaluation of other monetary assets and liabilities, higher depreciation, depletion and amortization (“DD&A”) and deferred tax.

Net Earnings Attributable to Common Shareholders of $387 million increased $88 million primarily due to the items discussed in the Cash Flow and Operating Earnings sections. Net Earnings Attributable to Common Shareholders for the first six months of 2014 were also impacted by unrealized hedging losses, a lower after-tax non-operating foreign exchange loss, a gain on divestitures and deferred tax.

Second quarter report

for the period ended June 30, 2014

Quarterly Prices and Foreign Exchange Rates

Encana’s financial results are influenced by fluctuations in commodity prices, price differentials and the U.S./Canadian dollar exchange rate. In the second quarter and first six months of 2014, Encana’s average realized natural gas price, excluding hedging, reflected higher benchmark prices compared to 2013. Realized natural gas prices for production from Deep Panuke were $11.31 per Mcf for the first six months of 2014 and increased Encana’s average realized natural gas price $0.60 per Mcf. Hedging activities reduced Encana’s average realized natural gas price $0.38 per Mcf in the second quarter of 2014 and $0.47 in the first six months of 2014. In the second quarter and first six months of 2014, Encana’s average realized oil price, excluding hedging, reflected higher benchmark prices compared to 2013. Hedging activities reduced the average realized oil price $3.38 per bbl in the second quarter of 2014 and $1.80 per bbl in the first six months of 2014.

As a means of managing commodity price volatility and its impact on cash flows, Encana enters into various financial hedge agreements. Unsettled derivative financial contracts are recorded at the date of the financial statements based on the fair value of the contracts. Changes in fair value result from volatility in forward curves of commodity prices and changes in the balance of unsettled contracts between periods. The changes in fair value are recognized in revenue as unrealized hedging gains and losses. Realized hedging gains and losses are recognized in revenue when derivative financial contracts are settled.

Second quarter report

for the period ended June 30, 2014

At June 30, 2014, Encana has hedged approximately 2,138 MMcf/d of expected July to December 2014 natural gas production at an average price of $4.17 per Mcf and approximately 825 MMcf/d of expected 2015 natural gas production at an average price of $4.37 per Mcf. In addition, Encana has hedged approximately 30.4 Mbbls/d of expected July to December 2014 oil production using WTI fixed price contracts at an average price of $97.34 per bbl. The Company’s hedging program helps sustain Cash Flow and netbacks during periods of lower prices. For additional information, see the Risk Management—Financial Risks section of this MD&A.

Foreign Exchange

As disclosed above, in the second quarter of 2014 the average U.S./Canadian dollar exchange rate decreased 0.060 compared to the second quarter of 2013 and 0.072 in the first six months of 2014 compared to the first six months of 2013. The table below summarizes selected foreign exchange impacts on Encana’s financial results when compared to the same periods in 2013.

Second quarter report

for the period ended June 30, 2014

Production and Net Capital Investment

Production Volumes (After Royalties)

Average natural gas production volumes for the second quarter and first six months of 2014 compared to 2013 were impacted by the Company’s capital investment focus in oil and liquids rich assets, divestitures and natural declines, partially offset by production from Deep Panuke. In the second quarter of 2014, average natural gas production volumes of 2,541 MMcf/d decreased 225 MMcf/d from 2013. In the first six months of 2014, average natural gas production volumes of 2,675 MMcf/d decreased 146 MMcf/d from 2013. The Canadian Operations volumes were higher primarily due to production from Deep Panuke and a successful drilling program in Montney, partially offset by the sale of the Jean Marie natural gas assets in the second quarter of 2013 and natural declines. The USA Operations volumes were lower primarily due to the sale of the Jonah properties and natural declines in Haynesville, Piceance and East Texas.

In the second quarter of 2014, average oil and NGL production volumes of 68.2 Mbbls/d increased 20.6 Mbbls/d from 2013. In the first six months of 2014, average oil and NGL production volumes of 68.0 Mbbls/d increased 22.4 Mbbls/d from 2013. The Canadian Operations volumes were higher primarily due to a successful drilling program in Montney, the extraction of additional liquids volumes in Bighorn and higher royalty volumes in Clearwater associated with the lands transferred to PrairieSky. The USA Operations volumes were higher primarily due to successful drilling programs in San Juan and the DJ Basin, and the acquisition of Eagle Ford, partially offset by the sale of the Jonah properties.

Average oil and NGL production volumes were 14 percent of total production volumes in the second quarter of 2014 compared to 9 percent in 2013 and were 13 percent of total production in the first six months of 2014 compared to 9 percent in 2013.

Second quarter report

for the period ended June 30, 2014

Net Capital Investment

Capital investment during the first six months of 2014 was $1,071 million compared to $1,354 million in 2013. The Company’s disciplined capital spending focused on investment in high return scalable projects and opportunities where development has demonstrated success, as well as executing drilling programs with joint venture partners. During the first six months of 2014, capital spending in the Company’s growth assets which include Montney, Duvernay, the DJ Basin, San Juan, the Tuscaloosa Marine Shale and the newly acquired Eagle Ford totaled $855 million, representing approximately 80 percent of the Company’s capital investment.

Acquisitions in the first six months of 2014 were $2 million in the Canadian Operations and $2,944 million in the USA Operations, which primarily included land and property purchases with oil and liquids rich production potential. The USA Operations included approximately $2.9 billion, after closing adjustments, related to the acquisition of Eagle Ford. The acquisition includes 45,500 net acres located in the Eagle Ford shale formation in south Texas and provides significant oil reserves to the Company, which will replace the natural gas-weighted production from the Jonah and East Texas divestitures with higher-margin oil and NGL production.

Divestitures in the first six months of 2014 were $121 million in the Canadian Operations and $2,170 million in the USA Operations, which primarily included the sale of land and properties that do not complement Encana’s existing portfolio of assets. The USA Operations included approximately $1.6 billion, after closing adjustments, for the sale of the Jonah properties and approximately $427 million for the sale of certain properties in East Texas. The Company expects to close the balance of the East Texas transaction in the third quarter of 2014. Divestitures in the first six months of 2013 in the Canadian Operations primarily included the sale of the Company’s Jean Marie natural gas assets.

The proved reserves associated with the divestiture of the Jonah properties exceeded 25 percent of Encana’s proved reserves in the U.S. cost centre. The carrying amount of the assets was deducted from the full cost pool and the remainder of the proceeds was recognized as a gain on sale of approximately $212 million, before tax. For divestitures that result in a gain or loss on sale and constitute a business, goodwill is assigned to the transaction. Accordingly, goodwill of $68 million was allocated to the Jonah divestiture.

Amounts received from the divestiture transactions have been deducted from the respective Canadian and U.S. full cost pools, except for the Jonah divesture as noted above.

Second quarter report

for the period ended June 30, 2014

Results of Operations

Canadian Operations

Operating Cash Flow

Three months ended June 30, 2014 versus June 30, 2013

In the second quarter of 2014, Operating Cash Flow of $447 million increased $64 million primarily due to the following significant items:

Second quarter report

for the period ended June 30, 2014

Six months ended June 30, 2014 versus June 30, 2013

In the first six months of 2014, Operating Cash Flow of $1,328 million increased $579 million primarily due to the following significant items:

Second quarter report

for the period ended June 30, 2014

Results by Resource Play

The Results by Resource Play presentation has been updated to align with the Company’s business strategy. Montney and Duvernay have been segregated for presentation in 2014 as Encana focuses capital on specific growth assets. The operating results associated with the lands transferred to PrairieSky continue to be included in Encana’s Clearwater resource play.

Average natural gas production volumes during the second quarter and first six months of 2014 increased primarily due to production from Deep Panuke, where natural gas volumes were approximately 243 MMcf/d and 248 MMcf/d, respectively, a successful drilling program in Montney and natural declines. Other and emerging natural gas production in the second quarter and first six months of 2013 includes production volumes of approximately 108 MMcf/d and 119 MMcf/d, respectively, from the Jean Marie natural gas assets which were sold in the second quarter of 2013.

Average oil and NGL production volumes during the second quarter and first six months of 2014 increased primarily due to a successful drilling program in Montney, the extraction of additional liquids volumes in Bighorn and higher royalty volumes in Clearwater associated with the lands transferred to PrairieSky.

Other Upstream Operations includes results from resource plays that are not part of the Company’s current strategic focus.

Second quarter report

for the period ended June 30, 2014

Other Expenses

In the second quarter and first six months of 2014, DD&A increased from 2013 primarily due to higher production volumes and a higher depletion rate, partially offset by the lower U.S./Canadian dollar foreign exchange rate. The depletion rate was impacted by a decline in proved reserves due to Encana’s change in development plans as the Company transitions to a more balanced commodity portfolio, the sale of the Jean Marie natural gas assets in the second quarter of 2013 and the lower U.S./Canadian dollar foreign exchange rate.

Second quarter report

for the period ended June 30, 2014

USA Operations

Operating Cash Flow

Three months ended June 30, 2014 versus June 30, 2013