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December 11, 2013
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Encana to spend at least $250 million in Weld next year

Encana Corp. plans to spend $250 million to $300 million in Weld County next year.

That will come with a drilling program of 40-50 wells.

Overall, the company plans to spend from $2.4 billion to $2.5 billion this year on its capital program, including five key areas.

Encana will focus 75 percent of its planned capital program on five liquids rich assets: the Montney, Duvernay, DJ Basin, San Juan Basin and the Tuscaloosa Marine Shale. Altogether, those assets are expected to make up 25 percent of Encana’s 2014 production, according to a news release.

While dropping its capital spending 10 percent, the company expects the same production from 2013, with plans for 30 percent growth year-over year in liquids production, the release stated.

In the Weld County area, that means four to six drilling rigs.

The company plans to reach 70 percent production growth in the DJ Basin, which is the chief drilling area for Weld County and parts of Wyoming and Nebraska.

In the San Juan Basin in western Colorado, the company hopes to increase its pace and reduce well costs “through the optimization of its completions process,” the release stated. The company hopes to expand its acreage and work with the Bureau of Land management to streamline permitting, the release stated. Overall in the San Juan, the company plans to invest between $300 million and $350 million while running a two to four drilling rig program to drill 45 to 50 wells in 2014.

In its three other plays, Encana will spend up to $1.3 billion.


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My Windsor Now Updated Dec 20, 2013 11:10AM Published Jan 13, 2014 08:49PM Copyright 2014 My Windsor Now. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.