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December 11, 2013
06:13 EDTECAEncana to grow liquids production by 30%
With its sight set on sustainably growing shareholder value, Encana Corporation today announced a disciplined capital program focused on generating profitable growth through investment in five core liquids-rich resource plays. In order to transition to a more balanced commodity portfolio and achieve a goal of deriving approximately 75 percent of its cash flow from oil and natural gas liquids by 2017, Encana will focus three quarters of its planned $2.4B to $2.5B capital investment in 2014 on five oil and liquids-rich assets: the Montney, Duvernay, DJ Basin, San Juan Basin and the Tuscaloosa Marine Shale. These five assets are expected to make up about 25% of total production in 2014 while generating approximately 45% of total upstream operating cash flow before the impact of commodity price hedging. Operationally, the company's forecasted production, on a total equivalency basis, is expected to remain unchanged from last year despite a more than 10% reduction in planned capital investment from 2013 levels. Total liquids production is expected to grow by 30% year-over-year which will offset a small decline in expected gas production for 2014. With growth in higher margin liquids, the company is estimating it will achieve an approximate 10% increase in netbacks in 2014.
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April 14, 2014
06:56 EDTECAStabilis Energy agrees to purchase Encana Natural Gas' domestic LNG business
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