Profile: Encana Corp (ECA.TO)
17 May 2019
Encana Corporation, incorporated on January 1, 2006, is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company's operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America. The Company operates through three segments: Canadian Operations, USA Operations and Market optimization.
The Company's Canadian Operations segment includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within Canada. Its plays in Canada include Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta, and Other Upstream Operations, including Wheatland in southern Alberta, Horn River in northeast British Columbia and Deep Panuke located offshore Nova Scotia. Wheatland is located in southern Alberta and includes producing horizons, such as the Lethbridge and Horseshoe Canyon formations, shallow sands formations, including the Belly River, Medicine Hat and deeper natural gas formations, including the Glauconitic and Mannville formations. Horn River is located in northeast British Columbia. As of December 31, 2016, the Company had approximately 97 gross producing horizontal wells (49 net producing horizontal wells) and controlled approximately 168,000 net acres, which includes 147,000 net undeveloped acres in the Horn River Basin shales. The Company is the owner and operator of the Deep Panuke gas field located offshore Nova Scotia, which is approximately 250 kilometers southeast of Halifax on the Scotian shelf.
The USA Operations include the exploration for, development of, and production of natural gas, oil and NGLs, and other related activities within the United States. Plays in the United States include Eagle Ford in south Texas and Permian in west Texas. The Other Upstream Operations include San Juan in northwest New Mexico and Tuscaloosa Marine Shale in east Louisiana and west Mississippi. Eagle Ford is a tight oil play located in south Texas in the Karnes, Wilson and Atascosa counties. As of December 31, 2016, Encana controlled approximately 42,000 net acres in the play. Permian is a tight oil play located in west Texas in the Midland, Martin, Howard, Glasscock and Upton counties. The primary focus is on the development of the Spraberry and Wolfcamp formations, in the Midland basin. As of December 31, 2016, the Company controlled approximately 127,000 net acres in the play. San Juan is a light sweet oil play located in the San Juan Basin in northwest New Mexico. The Tuscaloosa Marine Shale is an emerging oil play located in east Louisiana and west Mississippi.
The Market Optimization activities are primarily responsible for the sale of the Company's production to third party customers. Market Optimization activities also include third party purchases and sales of product to provide operational flexibility and cost mitigation for transportation commitments, product type, delivery points and customer diversification.
500 Centre Street SE, Stn M
PO Box 2850
CALGARY AB T2P 2S5