EnCana Corporation (ECA) has an active drilling program in the Haynesville Shale play in Louisiana. The company made the following comments during its earnings conference call held on July 23, 2009:
βIn the Haynesville, we continue to increase our drilling program and the latest well results continue to be very positive. We plan to drill about 50 net wells this year, which will enable us to further increase our understanding of the play, evaluate our lands, and retain prospective acreages."
"The most recent EnCana wells were drilled at a cost of $9 million per well and, while the production from the wells are currently restricted due to midstream constraints, we estimate that they have the potential to produce between 15 and 20 million cubic feet per day against line pressure for 30 days. We continue to believe that the Haynesville will be one of the most important gas plays in the future of our company.β
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