By year-end 2017, Encana (ECA) plans to increase its corporate margin to more than $10 per boe (barrel of oil equivalent) from year-end 2016’s corporate margin of ~$6.4 per boe. The main drivers for ECA’s margin growth will be increased liquids production and increased total production from core four plays (see Part 3 of this series).
Per Encana’s 4Q16 earnings presentations, it’s planning to achieve more than 35% growth in its oil and condensate production from 4Q16 to 4Q17. In order to achieve this growth, ECA’s 2017 capital program will focus on production from oil- and condensate-rich assets.
In 4Q16, ECA reported crude oil (USO) production of 66.4 Mboepd (thousand barrels of oil equivalent per day) and condensate production of 19.9 Mboepd.