Listen to Encana's management team discussing the company's Q4 & year-end 2013 results in a live webcast and see the quarterly results documents.
Bighorn is a resource play in west central Alberta. The focus is on exploiting multi-zone stacked Cretaceous sands in the Deep Basin. In 2012, Encana drilled approximately 31 net wells in the area and production after royalties averaged approximately 242 MMcf/d of natural gas and approximately 5.8 Mbbls/d of oil and NGLs. As of December 31, 2012, Encana controlled approximately 307,000 gross undeveloped acres (266,000 net acres) in the resource play.
Encana has a 70 percent ownership interest in the Resthaven gas plant, which has a current processing capacity of approximately 100 MMcf/d (net 70 MMcf/d to Encana). In October 2011, Encana signed an agreement that is expected to result in an unrelated third party investing approximately US$244 million to expand the Resthaven plant’s gas processing and NGL extraction capacity by an additional 200 MMcf/d in two phases. Completion of the first phase is expected in mid-2014. Encana has additional owned processing capacity of approximately 85 MMcf/d at other gas processing plants in the area.
Encana has current processing capacity of approximately 235 MMcf/d at the Musreau plant under an eight year commitment. Musreau’s deep cut facility was commissioned in February 2012. In late March, the facility was shut down due to a mechanical failure and resumed operations in September. Current net liquids production from the deep cut facility is approximately 5.5 Mbbls/d after royalties.
|Natural Gas (MMcf/d)||Oil & NGLs (Mbbls/d)|
Prior to 2012 production was reported as MMcfe/d which included production for both natural gas as well as oil and natural gas liquids.