ENCANA CORPORATION Q2 Results Conference Call July 24, 2015
DEMONSTRATING RESULTS AT TODAYS PRICES Better Wells, Lower Costs, Increasing Inventory Achieving strong well performance across the 4 strategic assets Permian IP rates of 1,000 bbls/d oil Eagle Ford Graben IP rate of 1,300 bbls/d oil…
POSITIONED FOR GROWTH BEYOND 2015 Permian + Eagle Ford + Duvernay + Montney Liquids Production from four strategic assets expected Gas Production to reach 270,000 BOE/d in Q4 Production (Mbbls/d) (MMcf/d) 120 1,200 100 1,000 80…
COMPETITIVE OPERATING MARGINS AT TODAYS PRICES Investing In Profitable Growth Oil-Weighted Returns at current prices 30% Gas-Weighted Asset Operating Asset Operating Margin (/BOE) across all four strategic assets Margin (/Mcfe) 40…
Simultaneous Operation PERMIAN (SimOps) Q2 2015 Update TXL H2101 on production at 1,100 bbls/d and 1.1 MMcf/d 2,000 lbs/ft frac design; 4,574 lateral length Davidson 24-8H on production at 900 bbls/d and 1.3 MMcf/d 4,000 lbs/ft frac…
PERMIAN Inventory and Well Performance County Gross HZ Targeted 1H15 Gross 2015 Gross Wells Inventory Type Curve Inventory Zones Wells Vert./HZ Vert./HZ EUR (MBOE) Glasscock 1,350 WC A & B 12 / 9 17 / 16 600 1,000 Howard 700 WC A 21 /…
EAGLE FORD Q2 2015 Update Continuous Improvement in Drilling Cycle Time Recent Graben well on production at 1,300 bbls/d and 675 Mcf/d 0 Current target D&C 5.6MM* 5,000 Pacesetter of 9.8 Increasing inventory (75% increase from time…
EAGLE FORD Panna Maria Inventory and Well Performance Type Curve Gross 1H15 2015 Gross Inventory Type Areas Inventory Gross Wells Wells Curve EUR (MBOE) Graben Kenedy PTS 120 30 41 800 - 900 Kenedy Graben 300 7 7 400 - 500 Panna…
DUVERNAY Q2 2015 Update 13% Quarter-over-Quarter Improvement Continued Drilling Improvements 40 7 0 Move to RPH in 2014 made for 30.5 6 5,000 30 major step change in execution 24.3 5 Depth (ft) 4.2 17.3 4 10,000…
DUVERNAY Inventory and Well Performance MOST RECENT WELL PERFORMANCE Simonette 1H2015 2015 Type Curve Inventory Type Curve Simonette Type Curve Gross Gross Gross Condensate EUR Condensate Oil EUR (MBOE) Gas Rate Inventory wells…
MONTNEY Q2 2015 Update Inventory Becoming More Liquids Rich C9-35 well on production at 400 bbls/d condensate and 10 MMcf/d CUTBANK PEACE D12-05 well on production at 375 bbls/d condensate and 7.5 MMcf/d RIVER ARCH Tower C30-G well…
MONTNEY Inventory and Well Performance Type Curve Gross 1H2015 2015 Gas EUR NGL EUR Condensate Inventory Type 1,500 Oil and Liquids Inventory Areas Inventory Gross Gross (Bcf) (Mbbls) EUR (Mbbls) Curve EUR (MBOE) wells wells Tower…
BUILDING MOMENTUM FOR 2H 2015 Q2 In Review Q2 2015 YTD 2015 Upstream Operating Cash Flow** 87% y-o-y increase in total liquids volumes Excluding Realized Hedging (MM) 315 769 78% YTD total liquids production Upstream Operating Cash…
ON TRACK TO MEET 2015 GUIDANCE Disciplined & Results-Focused Approach To Capital Spending 2015F Total Cash Flow (B) 1.4 1.6 Capital, cash flow, production guidance unchanged - per common share, diluted (/sh) 1.70 1.95 Weighted Average…
CAPTURING EFFICIENCIES ACROSS THE BUSINESS Durable Cost Reductions, Focused Capital, Leaner Workforce 2/3 of 375MM Organizational 2015F efficiencies 2015F capital realignment Improved capital to be sustainable in focused on…
FINANCIAL POSITIONING Ample Liquidity To Support Execution of Strategy Committed to maintaining investment grade credit rating Mid-BBB ratings from Moodys, S&P and DBRS 1.3 billion Q2 debt repayment No long-term debt maturities…
BETTER WELLS, LOWER COSTS, INCREASING INVENTORY Achieving strong well performance across the 4 strategic assets Liquids production accelerating in 2H 2015 Realizing sustainable operating and capital cost reductions Maintaining a…
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