Encana encouraged by Tuscaloosa Marine shale tests
NEW YORK (Reuters) - Encana (ECA.TO: Quote) has seen positive signs from recent well tests in the undeveloped Tuscaloosa Marine shale in Louisiana, as the Canadian energy company develops more liquids-rich plays in North America, a senior executive said on Tuesday.
The company has completed two wells in the area and recently moved a third rig there, Encana Senior Vice President Eric Marsh told a BMO Capital Markets conference in New York.
"We have completed a couple of wells and we are encouraged by the results," Marsh said, declining to give specifics about production.
Encana, which operates about 270,000 acres in Tuscaloosa, expects its overall gas liquids output to reach 80,000 barrels per day by 2015, as it shifts its emphasis away from natural gas development due to low prices.
Details on Tuscaloosa and other liquids rich plays, which include the Duvernay in Alberta and Collingwood in Michigan, will likely be divulged in spring or summer, Marsh said.
(Reporting by Selam Gebrekidan and Edward McAllister; Editing by Alden Bentley and David Gregorio)
© Thomson Reuters 2017 All rights reserved.