Encana Corporation focuses on developing a portfolio of resource plays producing natural gas, oil, and natural gas liquids (NGLs). The company’s operations also include marketing natural gas, oil, and NGLs. The company’s operations are primarily located in Canada and the U.S. Its reserves and production are located in North America. Segments As of December 31, 2015, the company’s segments were Canadian Operations, USA Operations, and Market Optimization. Canadian Operations This segment includes the exploration for, development of, and production of natural gas, oil and NGLs and other related activities within Canada. 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, Deep Panuke located offshore Nova Scotia and Other and emerging. Other and emerging primarily includes Horn River in northeast British Columbia. Plays and Other Activities Montney: Montney is a play located in the Canadian Rocky Mountain foothills, which extends from southwest of Dawson Creek, in northern British Columbia to northwest Alberta. In 2015, total production after royalties from the play averaged approximately 723 million cubic feet per day (MMcf/d) of natural gas and approximately 22.5 Mbbls/d of oil and NGLs. As at December 31, 2015, Encana controlled approximately 1,466,000 gross acres (948,000 net acres) in the play. The focus of development is on exploiting natural gas and condensate in the deep basin of the Montney formation within the play, of which Encana controlled approximately 809,000 gross acres (525,000 net acres), including 504,000 gross undeveloped acres (307,000 net undeveloped acres) at December 31, 2015. The Montney formation is being developed exclusively with horizontal well technology. In 2015, Encana drilled approximately 15 net horizontal wells in the area and production after royalties averaged approximately 619 MMcf/d of natural gas and approximately 22.5 Mbbls/d of oil and NGLs. The company has a partnership agreement with Mitsubishi Corporation to jointly develop certain lands predominately in the Montney. As of December 31, 2015, Encana has natural gas processing capacity of approximately 745 MMcf/d with eight plants located in Alberta and British Columbia under contract with third parties. The contracted capacities range from 100 MMcf/d to 240 MMcf/d and have varying terms ranging from 2 to 18 years. In addition to the contracted capacity, the company owns or has an ownership interest in natural gas processing capacity of approximately 177 MMcf/d net to Encana at three plants located in Alberta, with the plant capacities ranging from 115 MMcf/d to 209 MMcf/d. The company has access to gathering and compression capacity of 1,140 MMcf/d under contract with third parties that have remaining terms from 16 to 30 years and are located in the Dawson area of northeastern British Columbia and northwest Alberta. This includes gathering and compression that was divested in 2015 by Encana along with the CRP to Veresen Midstream Partnership LP (VMLP) The company also owns gathering and compression capacity of approximately 148 MMcf/d in northwest Alberta. Duvernay Duvernay is a play located in west central Alberta and includes properties that are primarily located in the Duvernay formation. As of December 31, 2015, the company controlled approximately 669,000 gross acres (389,000 net acres) in the play. The focus of development is on exploiting shale gas and condensate in the Duvernay formation within the play, of which Encana controlled approximately 586,000 gross acres (354,000 net acres), including 509,000 gross undeveloped acres (317,000 net undeveloped acres) at December 31, 2015. The company has continued to develop the play with horizontal well technology using pad drilling in the northern part of the formation. In 2015, Encana drilled approximately 15 net wells in the area and production after royalties averaged approximately 27 MMcf/d of natural gas and approximately 4.8 Mbbls/d of oil and NGLs. During 2015, Encana drilled wells with lateral length
encana corp (PCD1:Frankfurt)
500 Centre Street SE
PO Box 2850
Calgary, AB T2P 2S5
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