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Company Description

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500 Centre Street SE

PO Box 2850

Calgary, AB T2P 2S5


Phone: 403-645-2000

Fax: 403-645-3400

ranging from approximately 5,900 to 9,500 feet with completion spacing of approximately 60 feet. The company has an agreement with a subsidiary of PetroChina Company Limited (PetroChina) to jointly explore and develop certain Duvernay lands. The company holds an approximate 50.1 percent ownership in two Simonette gas plants and the associated gas gathering and compression, which has a combined natural gas processing capacity of 105 MMcf/d (net 53 MMcf/d to Encana) and NGLs production capacity of 24.4 Mbbls/d (net 12.2 Mbbls/d to Encana). Other Upstream Operations Wheatland Wheatland is a play located in southern Alberta and includes producing horizons, such as the Lethbridge and Horseshoe Canyon formations, shallow sands formations, including the Belly River and the Medicine Hat and deeper natural gas formations, including the Glauconitic and the Mannville formations. In 2015, the company drilled approximately 105 net natural gas wells. Production after royalties averaged approximately 86 MMcf/d of natural gas and approximately 0.9 Mbbls/d of oil and NGLs. As of December 31, 2015, the company controlled approximately 1,046,000 gross acres (803,000 net acres) in the play. As of December 31, 2015, the company controlled approximately 507,000 gross acres (495,000 net acres) in the Horseshoe Canyon Fairway. Deep Panuke The company is the owner and operator of the Deep Panuke gas field located offshore Nova Scotia, which is approximately 250 kilometres southeast of Halifax on the Scotian shelf. Natural gas from Deep Panuke is produced and processed by an offshore Production Field Centre (PFC), which is designed to process up to 300 MMcf/d. The PFC is under a lease arrangement which has an initial term that expires in 2021, with the option to extend the lease for 12 successive 1-year terms at fixed prices after the initial lease term. Other Activity Horn River is located in northeast British Columbia. The focus of development has been in the Horn River Basin shales (Muskwa, Otter Park and Evie), which are upwards of 500 feet thick. In 2015, the company’s natural gas production after royalties averaged approximately 69 MMcf/d. As of December 31, 2015, the company had approximately 91 gross producing horizontal wells (46 net producing horizontal wells) within the development area of the Horn River Basin shales. As of December 31, 2015, the company controlled approximately 217,000 gross acres (173,000 net acres), which includes 177,000 gross undeveloped acres (152,000 net undeveloped acres) in the Horn River Basin shales. The company owns natural gas compression capacity in Horn River of approximately 570 MMcf/d (net 285 MMcf/d to the company) at various facilities in the area. USA Operations This segment includes the exploration for, development of, and production of natural gas, oil and NGLs and other related activities within the U.S. Plays in the U.S. include Eagle Ford in south Texas; Permian in west Texas; and Other Upstream Operations including DJ Basin in northern Colorado, San Juan in northwest New Mexico, Piceance in northwest Colorado and Other and emerging. Other and emerging primarily includes Tuscaloosa Marine Shale in east Louisiana and west Mississippi. During 2015, the company divested of approximately 112,000 net acres in Haynesville located in northern Louisiana. Plays and Other Activities in the USA Operations Eagle Ford Eagle Ford is a tight oil play located in south Texas in the Karnes, Wilson and Atascosa counties. As pf December 31, 2015, Encana controlled approximately 43,000 gross acres (41,000 net acres) in the play. In 2015, Encana drilled approximately 65 net wells in the area and production after royalties averaged approximately 37.0 Mbbls/d of oil, approximately 44 MMcf/d of natural gas and approximately 5.8 Mbbls/d of NGLs. The company is developing the play using horizontal wells with lateral lengths ranging from approximately 3,300 to 7,000 feet with an average measured depth of approximately 17,500 feet and tighter cluster spacing ranging from 20 to 36 feet. Oil and natural gas production is gathered at various production facilities with combined capac


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