Encana and China National Petroleum Corp. (CNPC) have signed a memorandum of understanding that could lead to joint ventures on Encana's acreage in the Horn River, Greater Sierra and Montney natural gas plays in British Columbia.

摘要

Encana reports that it holds about 275,000 net acres of land in the Greater Sierra play covering the Devonian shale formation in its Horn River play and about 1.7 million net acres covering the Jean Marie formation. Encana's Montney holdings at Cutbank Ridge total about 720,000 net acres. The company reported that production in the first quarter this year from both was about 535 million cubic feet of gas equivalent per day. Under the terms Encana would be the operator for the joint venture, while CNPC would invest capital to earn an interest in the assets and technical knowledge.