United States

Encana Corp (ECA)

ECA on New York Consolidated

13 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Encana reports Q3 EPS $0.30
Wednesday, 8 Nov 2017 06:00am EST 

Nov 8 (Reuters) - Encana Corp :Encana reports third quarter results; company firmly on track to meet or beat 2017 deliverables in a transformational year.Q3 earnings per share $0.30.‍Q3 total production of 284,000 barrels of oil equivalent per day (boe/d)​.Says ‍Q3 core asset production of 248,000 boe/d; in October, this increased by 22 percent to over 302,000 boe/d​.‍In 2018, encana expects its total capital and cash flow to be in "balance"​.Says ‍Encana expects its core assets will deliver around 30 percent production growth from Q4 of 2016 to Q4 of 2017​.‍For 2018, company has hedged approximately 88,000 bbls/d of expected oil​.‍Q3 core asset production of 248,000 boe/d​.  Full Article

Encana to update five-year plan during Investor Day
Wednesday, 18 Oct 2017 06:00am EDT 

Oct 18 (Reuters) - Encana Corp :Encana to update five-year plan during Investor Day; company expects to deliver leading corporate returns, strong cash flow growth and substantial free cash flow.Encana Corp - ‍through its five-year plan, company expects its return on capital employed will climb to between 10 to 15 percent​.Encana - ‍expects to deliver about 25 percent compound annual growth in non-GAAP cash flow, around $1.5 billion cumulative adjusted free cash flow through 5-year plan​.  Full Article

Encana successfully starts Sunrise processing plant on Sept 27
Thursday, 5 Oct 2017 06:00am EDT 

Oct 5 (Reuters) - Encana Corp : :Encana Corp - ‍Encana successfully started up Sunrise processing plant on September 27, under budget and more than one month ahead of original schedule​.Encana - ‍in parallel with sunrise and tower facilities ramping up, third plant, Saturn remains ahead of schedule & is on track to start up before year-end​.Encana Corp - ‍in addition, Towerbirch lateral pipeline which connects all three plants to NGTL system started up on October 1​.  Full Article

Veresen announces start-up of Tower rich gas processing plant
Wednesday, 27 Sep 2017 06:00am EDT 

Sept 27 (Reuters) - Veresen Inc :Veresen announces start-up of Tower rich gas processing plant and expects remaining processing plants currently under construction in-service by year-end.Veresen Inc says 400 mmcf/d Sunrise processing plant is expected to start-up by mid-October with throughput anticipated to ramp up throughout 2018.Veresen - Saturn processing plant is anticipated to have one of its two 200 mmcf/d trains in-service by year-end, followed by second train in first half of 2018.Veresen Inc says when all three facilities are operational, Veresen Midstream will have 1.5 bcf/d of gas processing capacity in operation.Veresen - ‍Veresen Midstream to fund up to $5 billion of new infrastructure within AMI to service cutbank ridge partnership's planned production growth​.Veresen - ‍under Dawson Midstream deal, Encana manages construction of infrastructure within AMI, to processing facilities on behalf of Veresen Midstream.  Full Article

Encana delivers new Montney plant ahead of schedule
Wednesday, 27 Sep 2017 06:00am EDT 

Sept 27 (Reuters) - Encana Corp :Encana delivers new Montney plant ahead of schedule; company continues to outperform five-year plan.Encana Corp - ‍Company's liquids and gas volumes in play expected to grow throughout 2018​.Encana Corp - ‍Remains on track to deliver its 2017 corporate guidance despite Hurricane Harvey and gas constraints this summer in Western Canada​.Encana Corp - ‍impacts from Hurricane Harvey in Eagle Ford and Permian were limited to about 3,500 BOE/d in q3​.Encana Corp - "‍Firmly on track with our 2017 guidance and well positioned for 2018​".Encana - ‍In Western Canada, sees TCPL system maintenance, extended third party gas plant turnaround to have a Q3 production impact of about 55 MMcf/d.Encana Corp - ‍Now expects production growth from core assets to be towards top end of 25%-30% guidance range from Q4 2016 to Q4 2017​.Encana - Expects production growth from its core assets to be towards top end of its 25 to 30 percent guidance range from Q4 of 2016 to Q4 of 2017.  Full Article

Encana reports qtrly ‍net earnings of $331 million
Friday, 21 Jul 2017 06:00am EDT 

July 21 (Reuters) - Encana Corp :Encana delivers strong second quarter results; company expands margins, exceeds type curves, grows premium well inventory and updates guidance.Qtrly ‍net earnings of $331 million compared to a loss of $601 million in Q2 of 2016​.Qtrly core asset production of 246,500 barrels of oil equivalent per day.Expects - Core assets will deliver 25 to 30 percent production growth from Q4 of 2016 to Q4 of 2017.Encana Corp - ‍delivered Q2 total production of 316,000 boe/d, including total liquids production of 124,900 bbls/d​.Encana Corp - ‍"Encana is outperforming its initial 2017 corporate guidance​".By year-end 2017, expects net debt to adjusted EBITDA ratio will be about two times, will have total liquidity of over $5 billion.  Full Article

H2O Midstream acquires Permian Basin produced water assets from Encana Oil & Gas
Wednesday, 14 Jun 2017 10:16am EDT 

June 14 (Reuters) - H2O Midstream::H2O Midstream acquires Permian Basin produced water assets from Encana Oil & Gas.Co will assume ownership and operation of Encana's existing produced water gathering system.Under agreement, Co will gather, dispose, deliver for re-use produced water for substantial portion of Encana's acreage position in Howard County, Texas.Says plans to expand existing system through addition of new produced water pipelines, additional disposal wells.By 2018, H2O Midstream expects to have more than 200 miles of pipeline for gathering and 140,000 barrels per day of disposal capacity.Says plans to expand existing system through construction of a water storage and re-use hub.  Full Article

Encana to sell its Piceance natural gas assets for $735 mln
Friday, 9 Jun 2017 07:00am EDT 

June 9 (Reuters) - Encana Corp ::Encana announces agreement to sell its Piceance natural gas assets.Encana Corp - total cash consideration to Encana under transaction is $735 million.Encana Corp - deal for $735 million.Encana Corp says has reached an agreement to sell its piceance natural gas assets, located in northwestern colorado, to denver-based caerus oil and gas llc.Encana Corp - ‍ in addition, encana will reduce its midstream commitments by approximately $430 million, on an undiscounted basis​.Encana Corp says estimated year-end 2016 proved reserves were 814 billion cubic feet equivalent (BCFE).Encana Corp - ‍ in addition, Encana will market Caerus' production related to assets.Piceance assets include approximately 550,000 net acres of leasehold and approximately 3,100 operated wells.  Full Article

Encana reports Q1 earnings per share $0.44
Tuesday, 2 May 2017 06:00am EDT 

May 2 (Reuters) - Encana Corp -:Encana delivers strong first quarter results; company's multi-basin advantage drives growth and value.Q1 non-gaap operating earnings per share $0.11.Encana Corp qtrly core asset production of 237,300 barrels of oil equivalent per day (boe/d), representing 75 percent of total production.Q1 earnings per share $0.44.Encana Corp - infrastructure on schedule to support montney liquids growth to an expected 70,000 bbls/d by 2019.Says Encana is on track to meet or exceed its 2017 guidance.Encana Corp qtrly liquids production of 110,900 barrels per day (bbls/d) including oil and plant condensate production of 87,900 bbls/d.Encana Corp - new permian 12-well pad delivered peak daily production of 14,000 boe/d, including 11,000 bbls/d of oil in quarter.Encana - as at april 26, had hedged about 81,000 bbls/d of expected 2017 oil, condensate production for balance of year at average price of $51.33/barrel.Encana - expects to grow oil and condensate production by over 35 percent and total production from core assets by over 20 percent between q4 2016 and q4 2017.Encana Corp says for 2018, has hedged approximately 31,000 bbls/d of expected oil and condensate production at an average price of $55.45 per bbl.Encana Corp - "company expects total production will begin to grow from middle of 2017".Says has protected between 70 and 75 percent of its expected oil, condensate and natural gas production for remainder of 2017.  Full Article

HNZ Group agrees helicopter services deal with Exxonmobil Canada, Encana
Thursday, 9 Mar 2017 09:18am EST 

HNZ Group: Secured new, multi-year contract to provide helicopter services to support Exxonmobil Canada, Encana Corp's activities offshore Nova Scotia, Canada .Will supply two sikorsky s-92 helicopters for a term of 3 years beginning late in Q2 of 2017.  Full Article


Encana's quarterly profit down 7 percent as production slips

Canadian oil and gas producer Encana Corp on Wednesday posted a third-quarter profit above analysts' estimates but 7.3 percent below the same period last year as a result of lower production.