Encana boosts liquids drilling plans, investments

Encana Corp. plans to invest an additional $600 million yet this year in numerous oil and liquids-rich natural gas plays, and it also expects to increase total liquids production for the year to 30,000 b/d. Updated plans call for Encana to drill 115-120 wells in 10 plays, primarily oil, this year compared with 40-45 wells under its original 2012 plan. The company expects to drill 350 oil and natural gas liquids wells in 2013. "With approximately $2 billion of cash currently on the balance sheet and $3.5 billion of expected total cash flow this year, we have significant financial flexibility to support the execution of Encana's planned capital investments," said Randy Eresman, En...

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