Thursday, July 24, 2008

EnCana: 15 MMcf/d Test Well

EnCana released its second quarter earnings today. They were impressive and all, but from my perspective the most interesting part of their 38 page news release was the mention that they have preliminary results from their second horizontal well in the Louisiana Haynesville Play. The release was short on specifics except to say that the well flowed at an initial two-day rate of 15 MMcf/day. This volume puts it close to the huge Petrohawk 16.8 MMcf/d test well nearby.

Additionally, EnCana noted that the company has leased a total of 370,000 net acres in the Haynesville Play. The largest acquisition was 89,000 acres from Indigo Minerals (Indigo's press release puts the acreage at 89,500).

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