Encana Reports 2016 Q3
Encana Corp. announces third quarter results including plans to add 100 new locations to its Eagle Ford portfolio.
Related: Encana Loses $601 Million but Remains Positive
Encana CEO, Douglas James Suttles shared with investors last week that the third quarter for 2016 delivered very strong financial results, including exceptional operational performance and continued capital and operating efficiencies.
Eagle Ford Operations
Encana announced that in the Eagle Ford, the company is currently executing a new completion design that is substantially increasing productivity.
“We’re in the process of updating our inventory and expect to add at least 100 locations to our Eagle Ford inventory. Note that we previously had zero Austin Chalk locations included. We also expect to spud at least three new Austin Chalk wells before year-end. We are maximizing capital productivity by utilizing our existing Eagle Ford facilities for this program.”
Other highlights for Q3 include:
- Three new Lower Eagle Ford wells came on during the quarter using the new design with a 125% increase in productivity
- Completed two Austin Chalk wells that delivered initial 30-day production rates of about 2,000 BOE/d and 3,100 BOE/d with oil comprising about 80 percent