Encana to boost capital spending next year

encana_logoBucking the industry trend to cut capital spending due to recent oil price declines,  Encana Corporation will be increasing its capital expenditure budget for 2015 in unconventional shale oil.

The company announced a highly focused 2015 capital program of between $2.7 billion and $2.9 billion, with approximately 80 percent directed to four of its highest margin growth plays; the Montney, Duvernay, Eagle Ford and Permian.

The company also plans to spend capital in the DJ Basin, San Juan and Tuscaloosa Marine Shale (TMS): These three assets underline the flexibility of Encana’s portfolio and represent further high-quality investment opportunities. Collectively, the company plans to invest approximately $350 million to $450 million in these assets in 2015 with combined total liquids production expected to be between 25,000 and 28,000 bbls/d.

Read the complete news release on Encana’s 2015 Capital Program

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