Encana completes US$1 billion debt offering

Encana Corporation (TSX, NYSE: ECA) has completed a public offering in
the United States of US$600 million notes with a coupon rate of 3.90%
due November 15, 2021 and US$400 ?million notes with a coupon rate
of ?5.15% due ?November 15, 2041. The net proceeds of the offering will be
used to repay a portion of Encana's commercial paper indebtedness. A
portion of this commercial paper indebtedness was incurred to repay
Encana's US$500 million 6.30% notes that matured on November 1, 2011.
Encana′s next bond maturity is C$500 ?million of 4.30% notes due March
12, 2012.

The offering was made in the United States under Encana's previously
filed shelf prospectus dated April 1, 2010 and a prospectus supplement
dated November 8, 2011. Barclays Capital Inc., BNP Paribas Securities
Corp., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated and RBS Securities Inc. acted as joint book-running
managers for the offering.

Encana Corporation

Encana is a leading North American
natural gas producer that is focused on growing its strong portfolio of
resource plays producing natural gas and natural gas liquids in key
basins from northeast British Columbia to east Texas and Louisiana. 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.

Further information on Encana Corporation is available on the company's
website, www.encana.com
or by contacting:

Encana Corporation

Investor contact:

Ryder
McRitchie

Vice-President, Investor Relations

(403) 645-2007

Lorna
Klose

Manager, Investor Relations

(403) 645-6977

Media
contact:

Alan Boras

Vice-President, Media Relations

(403)
645-4747

Carol Howes

Manager, Media Relations

(403)
645-4799