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Credit Suisse Energy Summit – Encana Corp

Encana Corp · Feb 10, 2012 · 78 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Credit Suisse Energy Summit – Encana Corp – slide 1
    Encana Corporation 2012 Credit Suisse Energy Summit Eric Marsh | Executive Vice-President, Encana Corporation & Sr. Vice-President, USA Division February 7, 2012 | Vail, Colorado take a closer look
  2. Credit Suisse Energy Summit – Encana Corp – slide 2
    Encana Corporation Leading North American Resource Play Company Horn River Greater Sierra Duvernay Cutbank Ridge Deep Basin Montney Bighorn Coalbed Methane Alberta Bakken Collingwood Jonah Niobrara DJ Texas Piceance…
  3. Credit Suisse Energy Summit – Encana Corp – slide 3
    Encana Corporation History of Portfolio Optimization Dividends* Horn River Share purchases* East Texas Haynesville Integrated oilsands business (Cenovus) Natural gas storage Chad Offshore Brazil 2006 - 2010 2006 Primary…
  4. Credit Suisse Energy Summit – Encana Corp – slide 4
    Encana Today Rebalancing of Portfolio & Continued Highgrading Dividends** Kitimat LNG export Increasing liquids extraction capacity: total liquids forecast > 80,000 bbl/d* Large-scale joint ventures Duvernay, Tuscaloosa & other…
  5. Credit Suisse Energy Summit – Encana Corp – slide 5
    Continuous Portfolio Highgrading ? 2009 ? ~50 deals for total value of ~$1.3 billion ? ~10 active joint ventures ? Divestitures of ~$1,075 million ? Acquisitions of ~$260 million ? 2010 ? ~70 deals for total value of ~$1.6 billion…
  6. Credit Suisse Energy Summit – Encana Corp – slide 6
    0 20 40 60 80 100 Peak Rate (%) New Plays Commercial Assets Harvest Assets Cutbank Ridge - Montney Cutbank Ridge - Montney Horseshoe Canyon CBM Horseshoe Canyon CBM Bighorn Bighorn Horn River ? Two Island Lake Horn River ? Two…
  7. Credit Suisse Energy Summit – Encana Corp – slide 7
    Meeting the Challenge Adapting to a Prolonged Low Gas Price Environment ? Oil & liquids plays ? moving forward development ? Extracting increased liquids volumes through deep cut facility additions ? Evaluating several emerging…
  8. Credit Suisse Energy Summit – Encana Corp – slide 8
    Our Strategy ? Focus on returns ? Maintain industry leading cost structures ? Preserve financial strength and flexibility Unlock the Tremendous Value Unrecognized Within Our Asset Base
  9. Credit Suisse Energy Summit – Encana Corp – slide 9
    ? Low cost focus - Advance resource play hub design and development ? Returns - Increase exposure to oil and natural gas liquids ? Leverage - Attract third party investments in undeveloped reserves and resources ? Time value ?…
  10. Credit Suisse Energy Summit – Encana Corp – slide 10
    0 10 20 30 40 50 60 70 Annualized 2010 Production 2010 Reserves Res & ECR P1 ? 14.3 P2 ? 8.7 P3 ? 4.1 C1 ? 20.0 C2 ? 16.7 C3 ? 19.8 Comprehensive Disclosure Reserves and Resources (Tcfe) ? Best in class reserves and…
  11. Credit Suisse Energy Summit – Encana Corp – slide 11
    Advancing Resource Play Hub Concentrated resource + Pad drilling + Manufacturing process = Resource play hub Represents 4-6 square miles of reservoir accessed from a single surface location.
  12. Credit Suisse Energy Summit – Encana Corp – slide 12
    Haynesville ? Encana Leading the Way Resource Play Hub Program ? Superior safety performance ? Reduced environmental impact ? Repeatable execution efficiency ? Long lateral development ? Deep well development ? Completion…
  13. Credit Suisse Energy Summit – Encana Corp – slide 13
    ? Highest achieved flow rates and flowing pressure during clean up ? Restricted rate maintains fracture conductivity, currently 16MMcf/d at 10,100psi ? Type curve assumes 1.4 Bcf/1,000 feet, indications of 1.9 Bcf/1,000 feet ?…
  14. Credit Suisse Energy Summit – Encana Corp – slide 14
    Increasing Exposure to Oil & NGLs ? Pursuing a full cycle, organic approach to shifting portfolio weighting ? Leveraging our core competency of horizontal drilling and completions ? Hold more than 2.1 million net acres of land with…
  15. Credit Suisse Energy Summit – Encana Corp – slide 15
    Attracting Third Party Investments ? Immediate recognition of hidden value ? Achieves targeted reduction in resource inventory ? Enhances financial flexibility ? Creates strategic partnerships ? Aligns with goal to expand market…
  16. Credit Suisse Energy Summit – Encana Corp – slide 16
    Abundance of natural gas enables an energy plan that will include? ? Natural gas as a preferred fuel for power generation ? Natural gas as a transportation fuel ? Expanded natural gas use in industrial applications ? Accessing new…
  17. Credit Suisse Energy Summit – Encana Corp – slide 17
    $0 $5 $10 $15 $20 $25 Dec- 01 Dec- 02 Dec- 03 Dec- 04 Dec- 05 Dec- 06 Dec- 07 Dec- 08 Dec- 09 Dec- 10 Dec- 11 Dec- 12 Dec- 13 Dec- 14 Dec- 15 Gas Price per MMBtu Oil Source: NYMEX oil, coal, and gas…
  18. Credit Suisse Energy Summit – Encana Corp – slide 18
    Fuel Consumption by Market Segment 5 0 10 15 20 25 30 35 40 45 50 Light Duty Heavy Duty Medium Duty Domestic Marine Rail O&G Supply Chain Source: Data and forecast from EIA, Encana Displaceable Market Volume: 73 Bcfe/d…
  19. Credit Suisse Energy Summit – Encana Corp – slide 19
    What Makes LNG for Transportation Viable? Illustrative Full Cycle Cost Components ? LNG vs. Diesel 12% 13% 7% 23% 21% 24% Sales and Excise Tax Retailing Distribution ? LNG offers 20% to 40% savings depending on region* ? LNG…
  20. Credit Suisse Energy Summit – Encana Corp – slide 20
    Natural Gas Fueling Projects through 2011 Paving Way for Transportation and Operations ? Infrastructure Investment ? 5 CNG stations ? 1 mini liquefaction plant ? 6 mobile LNG stations ? 1 fixed LNG station ? Vehicle Conversions ?…
  21. Credit Suisse Energy Summit – Encana Corp – slide 21
    Kitimat LNG Project ? Encana 30% Interest Diversifying Markets ? Building Demand ? Co-owners ? Apache (40%, operator) ? Encana (30%) ? EOG (30%) ? 1,400 MMcf/d (10 MMT*) export capacity ? Pending final investment decision ?…
  22. Credit Suisse Energy Summit – Encana Corp – slide 22
    ? Renewed bank credit facilities ? ~$5 billion maturing October 2015 ? Advanced disposition & joint ventures processes to enhance financial flexibility ? 2011 announced divestitures total $3.5 billion ? Balanced approach for 2012…
  23. Credit Suisse Energy Summit – Encana Corp – slide 23
    0% 1% 2% 3% 4% ECA TLM CHK DVN EOG APA APC 0% 1% 2% 3% 4% 5% ECA S&P/TSX Utilities S&P/TSX Energy S&P/TSX Comp S&P/TSX 60 CAD 5-yr bond CAD 1- mth T-Bill Attractive Dividend, Strong Yield Q3 2011 Quarterly…
  24. Credit Suisse Energy Summit – Encana Corp – slide 24
    Take a Closer Look Strategically Positioned to Excel ? We are ? The leading North American resource play company ? Pursuing the greatest long-term value creation for shareholders ? Committed to responsible financial stewardship ?…
  25. Credit Suisse Energy Summit – Encana Corp – slide 25
    Comprehensive Disclosure of Reserves & Resources Largest Reserves and Resource Life in Encana?s History Total 14.3 8.7 4.1 20.0 16.7 19.8 Other 4 1.3 0.8 0.4 1.1 0.2 0.2 Jonah 2.0 0.8 0.6 0.2 0.3 0.4 Texas 1.6 0.3 0.3 2.1 0.5 0.7…
  26. Credit Suisse Energy Summit – Encana Corp – slide 26
    High Value Inventory 35,000 1,800 2,600 1,800 5,400 1,500 800 900 2,700 1,200 15,900 2P+2C Inventory (net wells) USA Division Canadian Division Other(4) 993 1,200 61 1.00 - 3.50(3) Haynesville 350 1,300 100 3.50 - 4.00…
  27. Credit Suisse Energy Summit – Encana Corp – slide 27
    0 1 2 3 4 5 6 Other Greater Sierra* Jonah Bighorn CBM Texas Horn River Piceance Cutbank Ridge* Haynesville 1P (Proved) Reserves Evaluated by Independent Qualified Reserves Evaluators as of December 31, 2010. *Cutbank Ridge…
  28. Credit Suisse Energy Summit – Encana Corp – slide 28
    Reserves and Contingent Resources Definitions Characterization of Petroleum Initially in Place (PIIP) Reserve ? Resource Description Petroleum Resource Management System SPE ? PRMS Deve lopme nt not viable On produc tion P lay…
  29. Credit Suisse Energy Summit – Encana Corp – slide 29
    0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 XOM ECA CHK DVN COP APC BP APA RDS CVX US Production Cdn Production Source: Company data, Energy eTrack estimates MMcf/d Leading North American Natural Gas Company Q3…
  30. Credit Suisse Energy Summit – Encana Corp – slide 30
    Encana Corporation Large, Diversified Portfolio & Production Base 0 100 200 300 400 500 600 Haynesville Cutbank Ridge* Jonah CBM Piceance Texas* Greater Sierra* Big Horn Other MMcfe/d Guidance as at October 20, 2011;…
  31. Credit Suisse Energy Summit – Encana Corp – slide 31
    Disciplined Risk Management Natural Gas Price Hedging* - Increased Cash Flow Certainty 0.5 2.0 1.8 $5.76 $5.80 $5.24 0.0 0.5 1.0 1.5 2.0 2.5 2011 2012 2013 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 Volume Fixed…
  32. Credit Suisse Energy Summit – Encana Corp – slide 32
    APA EOG DVN ECA TLM NXY APC SWN CHK Credit Rating Comparison January 30, 2012 S&P Moody?s AAA Aaa AA+ Aa1 AA Aa2 AA- Aa3 A+ A1 A A2 A- A3 BBB+ Baa1 BBB Baa2 BBB- Baa3 BB+ Ba1 BB Ba2 BB- Ba3 B+ B1 B B2 Source: company…
  33. Credit Suisse Energy Summit – Encana Corp – slide 33
    $0 $1 $2 $3 $4 $5 $6 $7 $8 2008 2009 2010 2011F 3-5 yr target Encana Historical Supply Cost Proven Track Record of Lowering Cost Structures $/MMBtu Including $0.30 G&A. 2011F represent initial projections Upper Quartile…
  34. Credit Suisse Energy Summit – Encana Corp – slide 34
    $0.30 $1.00 $0.50 to 2.00 7 6 5 4 3 2 1 0 9% IRR After Tax incl. G&A Increment from 9% to 15% Land costs First Mover Advantage Encana Point Forward vs. Industry Full Cycle Supply Costs $US/MMBtu Encana Point Forward Supply Cost*…
  35. Credit Suisse Energy Summit – Encana Corp – slide 35
    *Supply Cost is defined as the flat NYMEX natural gas price that yields a risked IRR of 9% after tax and does not include land costs. Operating Efficiency Development Program ? Forecast Metrics Supply Cost* ($/MMBtu) ~3.70 Production…
  36. Credit Suisse Energy Summit – Encana Corp – slide 36
    Increasing Exposure to Oil and NGLs Liquids - Then & Now Pre-split (Cenovus assets) Current Technology: Liquids: ? Horizontal drilling ? Large, multi-stage completions ? Water flood ? Polymer flood ? CO 2 injection ? SAGD ?…
  37. Credit Suisse Energy Summit – Encana Corp – slide 37
    $4.25 $4.10 $3.34 $1.25 $1.71 $3.28 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 Dewpoint Shallow Cut Deep Cut Natural Gas NGLs Increasing Exposure to Oil and NGLs Liquids Value Uplift C$/Mcfe* * Based on 1,100 Btu/Mcf…
  38. Credit Suisse Energy Summit – Encana Corp – slide 38
    Encana DD&A & ROCE Canadian and U.S. GAAP Reconciliation* 1.75 2.64 1% 5% 107 11 105 573 (582) 107 374 481 YTD Sept 30, 2011 U.S. GAAP 17% -22% 16% Canadian GAAP/IFRS 20% 8% 6% Return on average capital employed (ROCE)…
  39. Credit Suisse Energy Summit – Encana Corp – slide 39
    $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038…
  40. Credit Suisse Energy Summit – Encana Corp – slide 40
    .0x 1.0x 2.0x 3.0x 4.0x 5.0x 6.0x APA SWN TLM EOG NXY DVN ECA CHK APC 0% 10% 20% 30% 40% 50% 60% APA SWN TLM EOG DVN ECA NXY APC CHK Total Debt to Adjusted EBITDA Capital Discipline ? Q3 2011 Total Debt to…
  41. Credit Suisse Energy Summit – Encana Corp – slide 41
    ? Safe operations ? Maintain license to operate ? Advance oil plays ? Accelerate development through third party funding ? Advance innovation and technology ? Establish long-term strategic partnerships with service providers…
  42. Credit Suisse Energy Summit – Encana Corp – slide 42
    Tuscaloosa Marine Shale Emerging Light Oil Play MS LA LA MS Devon Locns Wey. 1H BOE #1H ECA Current Acreage Positions Existing Wells Encana Proposed New Wells ? ~270,000 net acres ? 80% NRI ? 2-7 year lease term ? Vertical…
  43. Credit Suisse Energy Summit – Encana Corp – slide 43
    ? 47,000 net acres ? Vertical depth: ? 6,000 to 12,000 feet ? 2011F program: ? 5 horizontal wells ? ~$19 MM 2011 Encana Proposed Locations Noble Gemini Oil IP 30 ~305 bbls/day Gas IP 30 ~4.15 MMscf/day OGIP Noble Hanscome…
  44. Credit Suisse Energy Summit – Encana Corp – slide 44
    Michigan Basin Collingwood Shale Early Entry ? First Mover Advantage Collingwood extent ECA acreage Kendall well Pioneer State well 2011F wells ? 425,000 net acres ? Acquired at ~$200/acre ? Single well can hold 7,500 acres ?…
  45. Credit Suisse Energy Summit – Encana Corp – slide 45
    Haynesville Shale A Top-tier Asset in a Dynamic Market Region ? Haynesville production has grown to approximately 6.5 to 7.0 Bcf/d in the past 5 years ? The asset: ? Is highly competitive on a cost basis ? Is one of the largest gas…
  46. Credit Suisse Energy Summit – Encana Corp – slide 46
    Encana Acreage: 350,000 net Haynesville Advancing Resource Play Hub Development ? 21 JV rigs drilling ? 2 JV completion fleets ? Drill depth: 11,000-14,000 feet ? NGIP: 175-225 Bcf/section ? 2015F production: > 1Bcfe/d ? 2011F…
  47. Credit Suisse Energy Summit – Encana Corp – slide 47
    Haynesville Resource Play Hub Realized Efficiency Gains ? Increased operational efficiency ? Pad drilling; skiddable rigs ? Centralized completion process ? Fit-for-purpose equipment ? Repeatable execution ? Reduced location foot…
  48. Credit Suisse Energy Summit – Encana Corp – slide 48
    Haynesville Resource Play Hub Long Lateral Current Pattern 640 acre, 4,600 ft lateral Previously undeveloped setback area Planned RPH Well Lease Retention Well New Planned Pattern 1,920 acre, 7,500 ft lateral Encana Leading the…
  49. Credit Suisse Energy Summit – Encana Corp – slide 49
    Haynesville Development Strategy * As at December 31, 2010; 3P is proved + probable + possible reserves; 3C is high estimate (C1 + C2 + C3); P1=1.8, P2=2.8, P3=0.5, C1=4.8, C2=5.7, C3=5.1 ** Supply cost is defined as the flat NYMEX…
  50. Credit Suisse Energy Summit – Encana Corp – slide 50
    Haynesville History of the Haynesville 61 287 505 10 0 100 200 300 400 500 600 2008 2009 2010 2011F Net Production (MMcfe/d) ? Haynesville and Mid-Bossier discovered by Encana in 2006 ? Largest producing gas play in…
  51. Credit Suisse Energy Summit – Encana Corp – slide 51
    Haynesville Resource Play Hub Drilling Spud to Rig Release Improvement (Days) 0 25 50 75 100 2008 LR 2009 LR 2010 RPH 2011F RPH 2012F Drilling Cost per Well Improvement ($MM) $0 $2 $4 $6 $8 $10 $12 2008 LR 2009 LR…
  52. Credit Suisse Energy Summit – Encana Corp – slide 52
    Haynesville Resource Play Hub Completions Average Completion Stages Pumped Per Crew Per Month 0 20 40 60 80 100 120 140 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 100% Improvement ? Reducing cost…
  53. Credit Suisse Energy Summit – Encana Corp – slide 53
    Haynesville Improving Well Performance 2011 2010 2009 7.3 16.7 5.5 14.1 4.1 13.7 # Stimulation Stages Per Well Average Proppant Per Well - MM lbs ? Completion designs improving well performance ? Design of experiment…
  54. Credit Suisse Energy Summit – Encana Corp – slide 54
    Haynesville Supply Cost Evolution 6 5 4 3 2 1 0 2008 LR 2009 LR 2010 RPH 2011F RPH 2012F ? Continuous completion design evolution ? Optimum well density ? Slowback ? Deeper longer wells ? Ultra long laterals ? Cross Unit…
  55. Credit Suisse Energy Summit – Encana Corp – slide 55
    Mid-Bossier Shale Capturing Value ? Mid-Bossier estimated productivity established across extensive acreage position: ? 100 to 200 Bcf/sec NGIP ? High quality shale as good as Haynesville ? ~24 wells for 2011F ? 150,000 to…
  56. Credit Suisse Energy Summit – Encana Corp – slide 56
    Haynesville Mid-Bossier Update ? Well performance competitive with Haynesville ECA Select MB Wells 2010 Avg. Composite Haynesville *NGIP = Natural Gas Initially in Place; evaluated by Independent Qualified Reserves Evaluators -…
  57. Credit Suisse Energy Summit – Encana Corp – slide 57
    Strategic Focus ? Operate safely with minimal environmental impact ? Deliver high return growth ? Leverage technology advancements and operational efficiencies to lower capital costs ? Actively manage portfolio to maximize value…
  58. Credit Suisse Energy Summit – Encana Corp – slide 58
    Exploration on Liquids-rich Lands Duvernay - Exciting New Liquids Opportunity ? Started building land position in 2009 ? 365,000 net acres ? Simonette ? Kaybob ? Willesden Green ? Recent land sales have shown ? Increased…
  59. Credit Suisse Energy Summit – Encana Corp – slide 59
    ? Covers ~150km x 600km ? Montney fairway contains over 1,800 Tcf of NGIP ? ECA Montney acreage well positioned in the highest NGIP/section area. Montney Fairway High Montney Tight Gas Play GR_1 0 200 GAPI 2500 2550 2600…
  60. Credit Suisse Energy Summit – Encana Corp – slide 60
    ? Gas liquids and light oil encountered toward the east and NNE ? Recovery values average 50+ bbl/MMcf of C2+ with deep cut processing ? Current Montney land position of 1,120 net sections in the Cutbank area Liquids Rich Play…
  61. Credit Suisse Energy Summit – Encana Corp – slide 61
    Montney Resource Play Hub ? Wells per hub: 8 ? 12 ? Completions per hub: 100 ? 200 ? up to 17 stages/well ? ~11 acres/stage average ? Laterals ~200 ? 300m apart ? Horizontal lateral length: ~2,000 ? 3,000m ? Completions placed…
  62. Credit Suisse Energy Summit – Encana Corp – slide 62
    $0.47 $3.20 $0.65 $0.52 $1.50 $0.95 $0.79 $3.17 $3.15 $4.10 $6.45 $4.55 $3.40 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 2006 Vertical 2006 2007 2008 2009 2010 2011F 7 6 5 4 3 2 1 0 Cost/Interval* Supply Cost** Montney Supply…
  63. Credit Suisse Energy Summit – Encana Corp – slide 63
    $2.95 $3.20 $1.98 $1.80 $0.09 $0.97 $0.05 $0.04 $0.16 $0.09 2010 Efficiencies New Frac Technology Increased Fracs 2011 Target Enhanced Liquids Recovery Increased Fracs Resource Play Hub Efficiencies Long-Term Target ?…
  64. Credit Suisse Energy Summit – Encana Corp – slide 64
    Resthaven Falher F Hz Future Development Bighorn ? The Next Phase Horizontal Drilling 25?30 m 20?25 m 15?20 m 10?15 m 5?10 m 0?5 m Bighorn North Falher F / Wilrich A HZ Results per Frac (NBR Sales) 10 100 1000 10000 0 100…
  65. Credit Suisse Energy Summit – Encana Corp – slide 65
    0 25 50 75 100 2008 2009 2010 2011F Horn River 4 9 55 95 29 Average Production MMcfe/d Horn River Total Greater Sierra Net Acres: 1.8 MM Encana Land (Dec. 31, 2010)
  66. Credit Suisse Energy Summit – Encana Corp – slide 66
    The Evolution of the Horn River Advancing Resource Play Hub Design and Development ? One pad accesses 4 sections ? 8 acres/interval 2010 2011F Future Spacing ? One pad accesses 6 sections ? 14 acres/interval ? One pad accesses…
  67. Credit Suisse Energy Summit – Encana Corp – slide 67
    Resource Play Hub ? Horn River Style 14-Well Pad Site With Concurrent Operations 63-K Pad
  68. Credit Suisse Energy Summit – Encana Corp – slide 68
    2009: Commerciality ? 41 wells drilled ? 13 wells online (cum) ? 4 wells completed ? 14 stage (downspacing pilot) 2011F: Execution excellence ? 70 wells online at year end ? Improving costs and type curve expectations 2008:…
  69. Credit Suisse Energy Summit – Encana Corp – slide 69
    CBM Development Strategy Pad Drilling ? 2011F type well: ? Shifting strategy to PAD style drilling with potential per well savings of 30% resulting in a supply cost of $3.00/MMBtu ? Capturing the Gas in the Box ? All Horseshoe…
  70. Credit Suisse Energy Summit – Encana Corp – slide 70
    ? Several joint venture arrangements in place ? 4 - 40% royalty to Encana ? Bakken/Exshaw ? 1,800+ sections ? Viking ? 200+ sections ? Cardium ? 200+ sections Potential Oil Opportunities Joint Venture Arrangements Deliver…
  71. Credit Suisse Energy Summit – Encana Corp – slide 71
    Electric Power 41% Industrial 20% Residential 7% Transportation 28% Commercial 4% 80 Bcfe/d 117 Bcfe/d Electric Power 31% Industrial 31% Residential 22% Transportation 1% Commercial 15% *U.S. data is as of 2010;…
  72. Credit Suisse Energy Summit – Encana Corp – slide 72
    0 50 100 150 200 250 300 350 Current Energy Use Current Natural Gas Consumption 2020F Consumption 2030F Consumption Residential Commercial Industrial Electric Power Transportation *U.S. data is as of 2010; Canadian data is as…
  73. Credit Suisse Energy Summit – Encana Corp – slide 73
    Natural Gas Opportunity Abundant, Affordable & Beneficial Attributes North American natural gas supply (& demand) could increase by approximately 25 Bcf/d 64 70 62 57 2 0 20 40 60 80 100 120 Coal Natural Gas Oil LNG…
  74. Credit Suisse Energy Summit – Encana Corp – slide 74
    Natural Gas Demand Advocacy in Canada & USA Economic and Environmental Benefits of Natural Gas ? Trade Organization Leadership ? Member of ANGA, CNGI, NGVA, CNGVA, CNGVC, WNGIC ? Formed Clean American Transportation Alliance (ANGA &…
  75. Credit Suisse Energy Summit – Encana Corp – slide 75
    Source: Kitimat LNG website, www.kitimatlngfacility.com Kitimat LNG Market Diversifying Markets ? Building Demand
  76. Credit Suisse Energy Summit – Encana Corp – slide 76
    2011F ENCANA CORPORATE GUIDANCE US$, US Protocols June 21, 2011 2011F Cash Flow ($ billions, except per share amounts) Total Cash Flow(1)(2)(3) 4.0 - 4.3 - per common share, diluted ($/share) 5.40 - 5.90 Upstream Operating Cash…
  77. Credit Suisse Energy Summit – Encana Corp – slide 77
    2011F Encana Corporate Guidance cont\'d?. 2011F Operating Costs (annual average) Total Operating and Administrative Costs ($/Mcfe) 1.15 - 1.20 Other DD&A, Upstream ($/Mcfe) 2.60 - 2.65 Sensitivities(3) ($ millions) $0.50/Mcf…
  78. Credit Suisse Energy Summit – Encana Corp – slide 78
    2011F Key Resource Play Information October 20, 2011 Production Capital Wells Planned (MMcfe/d) ($MM) (#) Jonah 280 500 70 Piceance 525 450 165 Texas 340 375 60 Haynesville 505 980 85 Greater Sierra(1) 350 260 30 Cutbank…

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