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Tag Archives: Encana Corp

Encana selling Louisiana assets for $850 million

NEW YORK  — Energy company Encana Corp. is selling its Haynesville natural gas assets in Louisiana in northern Louisiana to GEP Haynesville LLC for $850 million. The assets being sold include about 112,000 acres. Encana will use the proceeds from the sale to reduce debt. GEP Haynesville is a joint venture formed by GeoSouthern Haynesville LP and funds managed by ...

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Low oil prices remain a factor in San Juan Basin

FARMINGTON — Ten months after oil prices dropped south of $50 a barrel, drilling in the San Juan Basin is still down. Oil prices topped $60 a barrel in May, the first time since December that prices were that high. But despite the tenuous good news, area oil and gas companies are cautious or waiting on the sidelines altogether until ...

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South Texas oil well explodes, prompting evacuations

KARNES CITY, Texas — A South Texas oil well exploded, spewing toxic hydrogen sulfide gas that forced the evacuation of several nearby homes. The Karnes County Sheriff’s Office says The explosion happened Tuesday afternoon off Farm Road 792 about four miles east of Karnes City. Sheriff Dwayne Villanueva said the well pump that exploded was shut off but hydrogen sulfide ...

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Private equity firms see potential in Wyoming

lots of money

Encana Corp. has slowly emptied out of Wyoming in the past few years. According to a recent Casper Star Tribune article, the company sold its Jonah Field facility for $1.8 billion last year as well as 4,250 wells between Casper and Shoshoni. As Encana’s facilities file out of Wyoming, the state lost two rigs in the past week. The buyers ...

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Encana posts surprise operating profit as costs fall

Encana Corp , Canada’s largest natural gas producer, posted a surprise quarterly operating profit as investments in technology to lower well costs and increase production begin paying off. Encana has been diversifying into oil production and has invested heavily in technology and drilling techniques, such as applying simultaneous drilling and completions operations on wells, to drive greater productivity and cost ...

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Encana looking for buyers, seeks to exit Haynesville

Encana Corp is looking to tighten its portfolio to focus on its key areas in Texas and Canada, but that means getting rid of assets which don’t fall within those areas. Unfortunately, that includes the company’s acreage in the Haynesville Shale. According to Bloomberg, sources have stated that the Canada-based company is looking for prospective buyers for its Louisiana assets, ...

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Oil company pays $72,000 environmental fine to Mississippi

CENTREVILLE, Miss. — A Canadian oil company is paying an $18,000 environmental fine and giving $54,000 to two school districts to buy buses. Encana Corp. agreed with the Mississippi Department of Environmental Quality to pay the $72,000 in penalties. In an order published March 19, the department cited 11 violations of how Encana was supposed to control pollution, keep records ...

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Colorado jobs OK during O&G budget cuts

jobs or job concept with business folder in office showing earnings concept

Nine major drilling companies in Colorado plan to cut their 2015 budget by about $2 billion, but the state’s diverse economy will likely keep the state afloat just fine, according to a Denver Post article. Eric Berglund, CEO of Upstate Colorado Economic Development in Greeley, offered an optimistic perspective for Colorado’s financial well-being: “Hotels and restaurants still look to be ...

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