"Encana's joint venture deal with PetroChina should be seen as a leading indicator for the North American natural gas business 
...
But the plethora of deals also suggests that between the low price for North America confined natural gas and the high price tag for developing the shale plays, companies wanting to develop the resources don't have much choice but to land a partner with deep pockets and a time horizon that is not beholden to the short-term focus of the stock market.

The take on the Encana deal has been interesting, to say the least.

It doesn't have much in the way of liquids-rich natural gas and the economics of the 'dry' stuff is not great at current prices.

Despite the less than stellar outlook for natural gas prices, Encana is forging ahead with its plan of doubling its production by 2015 by monetizing existing reserves while aiming to be the low-cost producer. Still, there is a view out there that without finding a partner, it would be tough for Encana to meet that goal in the current pricing environment. ..."

http://www.calgaryherald.com/business/Yedlin+Encana+deal+sign+thing...

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