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Encana Slashes Well Costs Across Canada, Permian, Eagle Ford
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Encana Corporation has reported its first quarter 2016 results.
Key Points: Natural gas production in the first quarter of 2016 averaged 1.5 billion cubic feet per day (Bcf/d). Encana is on track to meet or beat its 2016 guidance, announced on February 24, 2016. Reduced its average Permian and Eagle Ford drilling and completion costs by 24 and 44 percent respectively (Permian - $5.4 million per well average & Eagle Ford - $3.5 million per well average) In the Duvernay, Encana reduced its average drilling and completion costs by 35 percent compared to its 2015 average ($8.0 million per well) The company lowered its average Montney drilling and completion costs by 22 percent compared to the 2015 average and has already exceeded its 2016 cost reduction target ($5.0 million per well)…- ✓ Full news archive — U.S., Canada & international coverage
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