Encana to boost spending

Boosting spending: Encana chief executive Randy Eresman

REUTERS/SCANPIX

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Josh Lewis

 21 June 2012 09:30 GMT

Canadian company Encana will spend an additional $600 million over the remainder of the year as it looks to boost liquids production.

Encana had originally planned to drill between 40 and 45 wells this year but said it now planned to increase that number to between 115 and 120 wells which will be drilled across 10 plays and be primarily focused on oil.

The spending boost is expect to increase the company’s liquids production for the year an additional 7% above its original forecast to 30,000 barrels per day.

“We’re encouraged with the success we have realised so far this year in our oil and liquids rich natural gas plays,” Encana chief executive, Randy Eresman,…

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