(Reuters) - Canadian oil and gas producer Encana Corp (TO:ECA) (N:ECA) said on Thursday it will buy Newfield Exploration Company (N:NFX) in an all-stock deal valued at about C$5.5 billion (3.26 billion pounds).
Encana said it intends to raise dividend by 25 percent and expand its share buyback program to C$1.5 billion.
Separately, the Calgary, Alberta-based company said total production rose 33 percent to 378,200 barrels of oil equivalent per day (BOE/d) in the third-quarter ended Sept. 30.