Encana’s acquisition of Newfield drives quarterly production volumes upward

摘要

Encana’s recent acquisition of Newfield Exploration reinforces thecompany’s strategy to focus on a handful of prolific North Americanproducing basins and to grow its liquids production by 15% in 2019,executives saidTuesday.The merger, which closed in mid-February, added Newfield’s oilandgas-producing properties in the Anadarko Basin to Encana’sexisting core producing assets of the Montney and Duvernay basins inCanada and the US Permian Basin.“We are laser-focused on delivering on the synergies fromacquisition,” CEO Doug Suttles said during a conference call to deliverthe producer’s Q1 2019 results.Total pro-forma production, combining Encana and Newfield’sproduction for the entire first quarter, grew approximately 566,600barrels of oil equivalent per day, up by 13% compared with Q1 2018 proforma production.Pro forma natural gas production was 1.64 Bcf/d, an increase ofabout 11% compared with Q1 2018 levels, while Q1 pro forma oil andnatural gas liquids production grew 15% year over year toapproximately 292,700 b/d.