Encana Corp.ECA is a focused pure-play natural gas exploration and production (E&P) company. It is one of the largest gas producers in North America, and holds a highly competitive land and resource position in a number of the region's most promising shale and tight gas resource plays.However, the weakness in commodity prices has affected the company’s earnings through reduced realizations. This is reflected in the consensus estimate that has moved down in the last few months.Currently, Encana has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. Coming to earnings surprise history, the company reported a positive average surprise of 30.16% for the last four quarters.We have highlighted some of the key details from the just-released announcement below:Earnings: Encana announced operating loss per share of 15 cents, wider than the Zacks Consensus Estimate of an operating loss of 11 cents per share.Revenue:Revenue below expectations. Revenues (net of royalties) came in at $753 million, which underperformed the Zacks Consensus Estimate of $892.17 million.Key Stats: Quarterly natural gas production declined approximately 18% year over year to 1,516 million cubic feet per day. However, liquid production jumped 8% year over year to 130.8 thousand barrels per day.Encana's realized natural gas price were $2.18 per thousand cubic feet, down from the year-ago quarter level of $4.78. Realized liquids price fell to $33.09 per barrel from $37.83 in the first quarter of 2015.Planned Capex: Encana has kept the 2016 capital expenditure budget unchanged at $900 million-$1 billion.Check back later for our full write up on this Encana earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ENCANA CORP (ECA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research