Encana Oil & Gas (USA) is a south of the border chip off the block of a Canadian energy giant. The company is an exploration and production subsidiary of natural gas giant Encana Corporation. Encana Oil & Gas (USA) explores for and produces hydrocarbons in its four key natural gas resource plays (about 90% of its total US natural gas production) located at Jonah and Piceance in the US Rockies (Wyoming and northwest Colorado) and the Fort Worth and East Texas/Haynesville basins. It also owns stakes in natural gas gathering and processing assets, mainly in Colorado, Texas, Utah, and Wyoming. Encana Oil & Gas (USA) has interests in 2.4 million net acres of land of which 1.9 million net acres is undeveloped.
In 2011 the company drilled 41 net wells in its East Texas operating area, 87 net wells in the Haynesville resource play, 71 net wells in the Jonah play, and 141 net wells in its Piceance resource play
Encana Oil & Gas is looking to raise cash by divesting some of its lucrative shale gas plays and related midstream infrastucture assets (natural gas processing plants, pipeline gathering systems and compression facilities). In 2011 Encana Oil & Gas sold its natural gas processing plant and related assets in Colorado to Western Gas Partners for $303 million.
In a move to focus on its highest return projects in Texas and Louisiana, that year it also divested a portion of its Piceance natural gas midstream assets in Colorado to a private firm for $590 million. In 2011 it also sold most of its North Texas natural gas assets to Houston-based EnerVest for $860 million.
In 2011 the company formed a joint venture with utility Northwest Natural Gas to exploit natural gas reserves in the Jonah filed Wyoming in order to provide a long-term gas supply for the utility.
That year the US Environmental Protection Agency (EPA) released a controversial report that made a direct link between the chemicals used in hydraulic fracturing (fracking) and contaminated groundwater at the company's Pavillion natural gas field in Wyoming.
Encana Oil & Gas (USA) is a subsidiary of Encana Corporation.
In 2009 Encana restructured itself as a natural gas focused organization, part of which was ramping up the profile and importance of its USA division in developing unconventional natural gas plays. As part of this push, EnCana Oil & Gas (USA) set up joint ventures to explore and produce in the Hayneville Shale in Texas and Louisiana and Appalachia's Marcellus Shale. – less
3 salaries reported
$84,428 per year