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Encana in brief

Leading North American energy producer

Born in 2002 in Calgary, Alberta, from the merger between PanCanadian Energy Corporation (PanCanadian Energy) and Alberta Energy Company Ltd (Alberta Energy), Encana is operating in oil and gas exploration and production in North America.

Headquartered in Calgary, Encana is listed in Toronto and New York Stock exchanges.

Created in the 1880s at the early days of the oil and gas prospection, PanAmerican and Alberta Energy provides Encana today with more than 100 years of experience to develop conventional and unconventional resources in North America.

Primarily, Encana is focusing on natural gas and natural gas liquids (NGL) fields, onshore and offshore as the only clean, affordable and abundant energy to meet growing demand for power generation, home heating and petrochemical industry.

This positioning gave Encana opportunities for significant growth until 2010 with the development of the shale gas and coal bed methane (CBM) in North America.

It also requires Encana constant efforts in innovation and operational excellence. 

Encana holds in western Canada 8.5 million net acres from which half of them are still undeveloped giving higher value to its assets.

In Canada, Encana is operating the natural gas plays of :

 – Bighorn top develop sweet gas

 – Horseshoe Canyon formation for coal bed methane (CBM)

 – Cutbank Ridge to extract tight gas from the Montney formation in British Columbia (BC)

 – Greater Sierra shale gas in BC

 – Deep Panuke natural gas field offshore Nova Scotia

In USA, Encana operates four natural gas fields covering 2.4 million acres of which 80% are still undeveloped:

 – Deep Bossier and Sabine areas in East Texas shale gas

 – Haynesville shale formation

 – Jonah in Wyoming

 – Piceance thick natural gas accumulation in Colorado

With the arise of concern about potential environmental impact of the fracturing technology, Encana is testing and developing in the Wyoming the Normally Pressured Lance (NPL) technique.

Through the NPL project, Encana aims at improving operating performances while measuring and reducing environmental impact at the benefit of the local communities. 

Encana Key Figures

  – 2011 Revenues: $8,46 billion

 – 2010 Revenues: $8,87 billion

 – 2009 Revenues: $6,73 billion

 – 2011 Earnings: $0,002 billion

 – 2010 Earnings: $1,5 billion

 – 2009 Earnings: $0,8 billion

 – 2011 Capital Expenditure: $4,57 billion

 – 2010 Capital Expenditure: $4,77 billion

 – 2009 Capital Expenditure: $3,75 billion

Encana Project and Business Highlights

To optimize the value of its assets in a context of depressed gas market prices, Encana is planning to:

 – Prioritize most profitable projects

 – Diversify revenues with NGL in developing liquids-rich gas fields

 – Leverage capital expenditure through Farm-out contracts, alliances and joint ventures

 – Maintain low costs structure

This strategy took form in 2012 with:

 – Additional $600 million capital expenditure to boost NGL production with 120 new wells instead of the 45 initially planned for liquids production.

 – Mitsubishi in building a partnership on the Cutbank Ridge where Mitsubishi is investing $2.9 billion to monetize the undeveloped reserves in compensation of 40% share of the field.

 – Toyota Tsusho Wheatland Inc., a subsidiary of Toyota Tsusho Corporation, to invest $600 million for 32.5% share of Encana coal bed methane fields and continue development

 – PetroChina in setting a joint venture for the development of the $4 billion capital expenditure Duvernay shale gas in Alberta

 In 2013, Encana will:

 – Continue its investments to drill more liquids wells, 350 new wells are actually planned

 – Start the drilling campaign to develop the newly formed joint venture Duvernay

 -Investigate opportunities to develop the Liard basin with Apache that could lead to double the size of the Kitimat liquefied natural gas (LNG) project.

Through this Kitimat LNG project on British Columbia Pacific Coast, the exported gas to Asia would drastically change Encana sales mix value compared with actual calculation based only on the North American gas prices,

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

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