ECA Reports Better-Than-Expected Third-Quarter Production, and Hits New Well Cost Lows in Key Plays
Encana's third-quarter production was 338 thousand barrels of oil equivalent per day, easily beating our 328 mboe/d forecast and setting the firm up to hit the higher end of its full-year guidance (340-360 mboe/d). The firm’s financial results were strong as well, with cash flows of $252 million--a 38% increase from the second quarter. Not surprisingly, more than 70% of the company's production came from its core four operating areas (Eagle Ford, Permian, Duvernay, and Montney). These are expect...Encana is in the business of the exploration for, the development of, and the production and marketing of natural gas, oil and natural gas liquids (NGLs). All of Co.'s reserves and production are located in North America. As at Dec. 31, 2016, total proved developed and undeveloped reserves for natural gas, oil, and NGLs were 2.90 billion cubic ft., 155.6 million barrels (MMbbls), and 150.4 MMbbls, respectively. Co.'s operating and reportable segments are: Canadian Operations, USA Operations, and Market Optimization.
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