The Montney, Duvernay, Eagle Ford and Permian regions represent 80 per cent of Encana’s anticipated growth moving into the new year.
Specifically in the Montney region, Encana anticipates it to provide the corporation with more than 25-years of drilling inventory – expected to produce 2 billion cubic feet per day and 50,000 barrels per day of natural gas a liquids production.
“We enter 2015 focused on our long-term strategy, increasing liquids production, capturing new efficiencies throughout the business and protecting our balance sheet,” Encana President and CEO, Doug Suttles writes.
This represents an investment of $250 million – $350 million, and is expected to run two – three rigs and drill 20 – 30 net wells.
“…We plan to continue to execute our strategy and capitalize on the portfolio we have built by investing in our highest margin plays and highest impact projects to keep us on track to reach our long-term strategic goals,” Suttles adds.
Overall, with all four investments in mind – in addition to all assets and anticipated transactions – Encana expects to generate net proceeds of approximately $800 million in the first quarter of 2015.