Top Story | Quarterly / Earnings Reports | Second Quarter (2Q) Update | Capital Markets | Capital Expenditure | Capital Expenditure - 2017
Encana's Production Continues To Decline Amid Massive Capital Increase
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Encana lauded its 2Q17 results as strong, but left us somewhat confused. Shale Experts Research Group decided to look at the numbers to determine whether they match the story company is telling. First we looked at production numbers.
The chart below shows that the company's total production fell (-14%) year over year, with natural gas taking the blunt of that decrease in the amount of -20%, with both NGLs and oil down -10% and -2%, respectively. This happened despite the company's increased capital investment of approximately +93% year over year.
Shifting focus to the company's "core areas", the production level of the "core" performance in 2Q17 was 246 Mboe/d, down -12% year over year from 2Q16 when production was 268 Mboe/d.
Capital Investment
Capital budget expected to be $1.7…
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