Thursday, August 20, 2015

Encana Corporation - ECA.t

Encana Corporation - ECA.t is a leading North American energy producer focused on growing its strong portfolio of diverse resource plays producing natural gas, oil and natural gas liquids.

On July 24, 2015 the company released Numbers

"EnCana loses $1,610-million (U.S.) in Q2


Strong second-quarter operational performance helped EnCana Corp. deliver its seventh consecutive quarterly increase in liquids volumes since launching its strategy to grow high-margin production. A focused and front-end-loaded capital program has positioned the company to accelerate liquids production growth in the second half of 2015. EnCana reports in United States dollars unless otherwise noted. Highlights include:

Liquids production of approximately 127,300 barrels per day, up 87 per cent year over year;
Over 80 per cent of capital invested in the company's four most strategic assets, the Permian, Eagle Ford, Duvernay and Montney;
Fifty-nine new wells brought on production in the Eagle Ford and Permian late in the second quarter, with another 76 planned in the third quarter;
Reduced Eagle Ford drilling and completion costs by $1-million per well, or 18 per cent, compared with the first quarter;
Pace-setting Duvernay wells with production rates of up to 2,000 barrels per day of condensate and 11.5 million cubic feet per day of rich gas after 27 days on production;
Significant expansion of liquids inventory in the Montney, with higher condensate yields in Dawson South and two recent Pipestone-area wells each producing over 1,000 barrels per day.

"Following our successful portfolio transformation in 2014, we continue to lower costs, improve well performance and increase well inventory in our four most strategic assets," said Doug Suttles, EnCana president and chief executive officer. "We exited the second quarter with significant operational momentum and we expect to accelerate liquids growth through the second half of the year."