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Encana's Production Down -7%; Sees Net Loss of $24MM; Talks Development Program
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Encana reported its 1Q 2019 results. Here is a quick read:
Q1 2019 production of 566 Mboe/d - down 7% from Q4 2018 Net loss of $245 million, or $0.20 per share Capital investment in Q1 2019 was $913 million vs (estimated run rate of $700 million per quarter), 32% of total full year.The company reiterated its proforma capital outlook of $2.7 to $2.9 billion and 560 - 600 Mboe/d.
The company drilled 103 wells, 90% of those across the core areas (Permian, Andarko, Montney). It is worth reiterating the company full year guidance for wells drilled.
Permian, FY-2019 wells drilled (estimate) : 112.5 Anadarko Basin, FY-2019 wells drilled (estimate) : 65 Montney, FY-2019 wells drilled (estimate) : 75Now lets take a look at production in 4Q 2018 vs 1Q 2019 (sequential ). Even…
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