Exhibit 99.1
 (ENCANA LOGO)
    
    news release
 Encana generates second quarter cash flow of US$1.1 billion,
or $1.47 per share
 Natural gas and liquids production grows 4 percent per share
 Calgary, Alberta (July 21, 2011)
  Pursuing cost savings through operating efficiencies and supply chain optimization
  Encana establishes sizeable positions in two promising liquids rich plays  Duvernay and
Tuscaloosa
   Encana Corporation
    
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Several divestiture and joint venture initiatives moving forward
  Deep Panuke project gearing up to begin production in fourth quarter
   Natural gas hedges help protect cash flow generation
   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. As of January 1, 2011, Encana prepares its interim
consolidated financial statements and comparative information in accordance with International
Financial Reporting Standards (IFRS) 1, First-time Adoption of International Financial Reporting
Standards, and with International Accounting Standard 34, Interim Financial Reporting, as issued
by the International Accounting Standards Board. Prior to 2011, Encanas financial statements were
prepared in accordance with Canadian generally accepted accounting principles (previous GAAP).
Reconciliations between previous GAAP and IFRS financial information can be found in the
consolidated financial statements available on the companys website at www.encana.com . Additional
supplemental information will be posted on Encanas website. Encana defines supply cost as the flat
NYMEX natural gas price that yields an internal rate of return of 9 percent after tax, and does not
include land costs.
 Encana Corporation
    
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Second Quarter 2011 Highlights
 Financial
 
    
    Cash flow per share of $1.47, or $1.1 billion
 
    
    Operating earnings per share of 22 cents, or $166 million
 
    
    Net earnings per share of 21 cents, or $176 million
 
    
    Capital investment, excluding acquisitions and divestitures, of $1.1 billion
 
    
    Realized natural gas prices of $5.09 per Mcf and realized liquids prices of $92.66 per
barrel (bbl). These prices include realized financial hedges
 
    
    At the end of the quarter, debt to capitalization was 33 percent, debt to debt adjusted
cash flow was 1.9 times and debt to adjusted EBITDA was 2.0 times
 
    
    Paid dividend of 20 cents per share
 Operating
 
    
    Total production of 3.46 Bcfe/d
 
    
    Natural gas production of 3.31 Bcf/d
 
    
    NGLs and oil production of about 24,300 barrels per day (bbls/d)
 
    
    Operating and administrative costs were $1.01 per thousand cubic feet equivalent (Mcfe)
 Strategic Developments
 
    
    Encana outlined plans to offer a variety of joint venture opportunities for portions of its
undeveloped Montney resources in Cutbank Ridge and, separately, to examine a transaction with
respect to midstream pipeline and processing assets in the area.
 
    
    Encana Oil & Gas (USA) Inc., a subsidiary of Encana, completed an upstream joint-venture
development agreement with Northwest Natural Gas Company, an Oregon natural gas distributor,
which will result in Northwest Natural investing about $250 million over the next five years
to earn a working interest in certain sections of Encanas Jonah field in Wyoming.
 
    
    Divested non-core assets in North America for total proceeds of approximately $43 million
and acquired approximately $151 million of upstream assets, for net acquisitions of about $108
million.
 Financial Summary
 (for the period ended June 30)
    
    Q2
    
    
    Q2
    
    
    6 months
    
    
    6 months($ millions, except per share amounts)
    
    2011
    
    
    2010
    
    
    2011
    
    
    2010Cash flow1
    
    
    1,087
    
    
    
    1,217
    
    
    
    2,042
    
    
    
    2,389Per share diluted
    
    
    1.47
    
    
    
    1.65
    
    
    
    2.77
    
    
    
    3.20Operating earnings1
    
    
    166
    
    
    
    66
    
    
    
    181
    
    
    
    463Per share diluted
    
    
    0.22
    
    
    
    0.09
    
    
    
    0.25
    
    
    
    0.62
 Earnings Reconciliation Summary
 Net earnings (loss)
    
    
    176
    
    
    
    (457
    )
    
    
    254
    
    
    
    1,033Deduct (Add back):Unrealized hedging gain (loss), after tax
    
    
    18
    
    
    
    (340
    )
    
    
    (70
    )
    
    
    572Exploration and evaluation, after tax
    
    
    (78
    )
    
    
    
    
    
    
    (78
    )
    
    
    Gain (loss) on divestitures, after tax
    
    
    26
    
    
    
    28
    
    
    
    109
    
    
    
    62Non-operating foreign exchange gain (loss), after tax
    
    
    44
    
    
    
    (211
    )
    
    
    112
    
    
    
    (64
    )Operating earnings1
    
    
    166
    
    
    
    66
    
    
    
    181
    
    
    
    463Per share diluted
    
    
    0.22
    
    
    
    0.09
    
    
    
    0.25
    
    
    
    0.62
 1
    
    Cash flow and operating earnings are non-GAAP measures as defined in Note 1 on Page 6. Encana Corporation
    
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Production & Drilling Summary
 (for the period ended June 30)
    
    Q2
    
    
    Q2
    
    
    
    
    
    
    6 months
    
    
    6 months(After royalties)
    
    2011
    
    
    2010
    
    
    % ∆
    
    
    2011
    
    
    2010
    
    
    % ∆Natural gas(MMcf/d)
    
    
    3,309
    
    
    
    3,202
    
    
    
    +3
    
    
    
    3,253
    
    
    
    3,162
    
    
    
    +3Natural gas production per 1,000 shares (Mcf/d)
    
    
    4.49
    
    
    
    4.34
    
    
    
    +3
    
    
    
    4.42
    
    
    
    4.26
    
    
    
    +4NGLs and Oil(Mbbls/d) 1
    
    
    24
    
    
    
    24
    
    
    
    
    
    
    
    24
    
    
    
    24
    
    
    
    NGLs and Oil production per 1,000 shares (Mcfe/d)
    
    
    0.20
    
    
    
    0.19
    
    
    
    +5
    
    
    
    0.19
    
    
    
    0.19
    
    
    
    Total production(MMcfe/d)
    
    
    3,455
    
    
    
    3,344
    
    
    
    +3
    
    
    
    3,395
    
    
    
    3,304
    
    
    
    +3Total production per 1,000 shares (Mcfe/d)
    
    
    4.69
    
    
    
    4.53
    
    
    
    +4
    
    
    
    4.61
    
    
    
    4.45
    
    
    
    +4Capital investment ($ millions)
    
    
    1,120
    
    
    
    1,096
    
    
    
    +2
    
    
    
    2,406
    
    
    
    2,120
    
    
    
    +13Net wells drilled
    
    
    145
    
    
    
    151
    
    
    
    -4
    
    
    
    604
    
    
    
    599
    
    
    
    +1
 1
    
    Thousand barrels per day Second quarter total production up 4 percent per share
    Average Daily Production (MMcfe/d)2011
    
    
    20101
    
    
    20091Full
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    FullKey Resource Play
    
    YTD
    
    
    Q2
    
    
    Q1
    
    
    Year
    
    
    Q4
    
    
    Q3
    
    
    Q2
    
    
    Q1
    
    
    YearUSA DivisionJonah
    
    
    504
    
    
    
    498
    
    
    
    510
    
    
    
    559
    
    
    
    521
    
    
    
    545
    
    
    
    574
    
    
    
    595
    
    
    
    601Piceance
    
    
    427
    
    
    
    428
    
    
    
    426
    
    
    
    458
    
    
    
    437
    
    
    
    442
    
    
    
    470
    
    
    
    482
    
    
    
    373Texas
    
    
    401
    
    
    
    398
    
    
    
    404
    
    
    
    488
    
    
    
    429
    
    
    
    434
    
    
    
    503
    
    
    
    584
    
    
    
    473Haynesville
    
    
    450
    
    
    
    487
    
    
    
    412
    
    
    
    287
    
    
    
    391
    
    
    
    310
    
    
    
    258
    
    
    
    189
    
    
    
    61Canadian DivisionGreater Sierra
    
    
    259
    
    
    
    266
    
    
    
    252
    
    
    
    236
    
    
    
    240
    
    
    
    238
    
    
    
    247
    
    
    
    218
    
    
    
    204Cutbank Ridge
    
    
    527
    
    
    
    535
    
    
    
    518
    
    
    
    461
    
    
    
    511
    
    
    
    515
    
    
    
    445
    
    
    
    371
    
    
    
    379Bighorn
    
    
    248
    
    
    
    257
    
    
    
    238
    
    
    
    240
    
    
    
    247
    
    
    
    260
    
    
    
    253
    
    
    
    198
    
    
    
    176CBM
    
    
    473
    
    
    
    476
    
    
    
    469
    
    
    
    431
    
    
    
    445
    
    
    
    419
    
    
    
    426
    
    
    
    434
    
    
    
    450Total key resource plays
    
    
    3,289
    
    
    
    3,345
    
    
    
    3,229
    
    
    
    3,160
    
    
    
    3,221
    
    
    
    3,163
    
    
    
    3,176
    
    
    
    3,071
    
    
    
    2,717Other production
    
    
    106
    
    
    
    110
    
    
    
    106
    
    
    
    161
    
    
    
    132
    
    
    
    159
    
    
    
    168
    
    
    
    194
    
    
    
    286Total production
    
    
    3,395
    
    
    
    3,455
    
    
    
    3,335
    
    
    
    3,321
    
    
    
    3,353
    
    
    
    3,322
    
    
    
    3,344
    
    
    
    3,265
    
    
    
    3,003
 1
    
    2010 and 2009 results have been restated to reflect a realignment of key resource play
areas. Encana Corporation
    
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6
    
    
    6Q2
    
    
    Q2
    
    
    months
    
    
    months2011
    
    
    2010
    
    
    2011
    
    
    2010Natural gasNYMEX ($/MMBtu)
    
    
    4.31
    
    
    
    4.09
    
    
    
    4.21
    
    
    
    4.69Encana realized gas price1($/Mcf)
    
    
    5.09
    
    
    
    5.50
    
    
    
    5.04
    
    
    
    5.81NGLs and Oil ($/bbl)WTI
    
    
    102.34
    
    
    
    77.99
    
    
    
    98.50
    
    
    
    78.39Encana realized liquids price1
    
    
    92.66
    
    
    
    67.05
    
    
    
    86.85
    
    
    
    67.06
 1
    
    Realized prices include the impact of financial hedging. Encanas risk management program continues to supplement revenue and stabilize cash flow
  About 50 percent of natural gas production hedged for remainder of 2011
    Quarterly dividend of 20 cents per share declared
  Guidance
    Encana Corporation
    
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CONFERENCE CALL TODAY
  www.encana.com
 NOTE 1: Non-GAAP measures
  
    
    Cash flow is a non-GAAP measure defined as cash from operating activities excluding net
change in other assets and liabilities, and net change in non-cash working capital. Free cash
flow is a non-GAAP measure that Encana defines as cash flow in excess of capital investment,
excluding net acquisitions and divestitures, and is used to determine the funds available for
other investing and/or financing activities. Debt to debt adjusted cash flow is a non-GAAP
measure defined as cash flow before interest expense net of tax.
    
    Operating earnings is a non-GAAP measure defined as net earnings excluding non-recurring
or non-cash items that management believes reduces the comparability of the companys
financial performance between periods. These after-tax items may include, but are not
limited to, unrealized hedging gains/losses, exploration and evaluation expenses, impairments
and impairment reversals, gains/losses on divestitures, foreign exchange gains/losses and the
effect of changes in statutory income tax rates.
    
    Capitalization is a non-GAAP measure defined as current and long-term debt plus
shareholders equity. Debt to capitalization and debt to adjusted EBITDA are two ratios that
management uses as measures of the companys overall financial strength. EBITDA is defined as
earnings before interest, taxes, depreciation and amortization.
    
    Adjusted EBITDA is a non-GAAP measure defined as net earnings before gains or losses on
divestitures, income taxes, foreign exchange gains or losses, interest, accretion of asset
retirement obligation, depreciation, depletion and amortization, exploration and evaluation
expenses and impairments.
  Encana Corporation
  ADVISORY REGARDING OIL AND GAS INFORMATION 
 Encana Corporation
    
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ADVISORY REGARDING FORWARD-LOOKING STATEMENTS 
   Encana Corporation
    
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www.encana.com
 FOR FURTHER INFORMATION:Investor contacts:
    
    Media contacts:Ryder McRitchie
    
    Alan BorasVice-President, Investor Relations
    
    Vice-President, Media Relations(403) 645-2007
    
    (403) 645-4747Lorna Klose
    
    Carol HowesManager, Investor Relations
    
    Manager, Media Relations(403) 645-6977
    
    (403) 645-4799
 Encana Corporation
    
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