Operations-wise, Encana is hitting on all cylinders in the Duvernay formation in west-central Alberta. The company's 8-5 well had an initial production (IP) rate of 1,400 b/d of field condensate and 4 MMcf/d over the first 30 days and continues to produce at a rate of 350 b/d and 2 MMcf/d after more than 160 days. To date the well has produced more than 100,000 b/d and 400 MMcf/d. Twelve horizontal wells have been completed with 10 on production and two now being tied in.
MKE Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held