Encana - Piceance Divestiture 2017


  • Premier natural gas asset, consisting primarily of Mesaverde, directional pad-drilled production, with significant low risk development remaining
    • Third party PDP reserve report provided by NSAI with PDP PV-10 of $663 million
  • ~6,000 drilling locations provide decades of inventory and development optionality
  • Basin leading, horizontal Niobrara and Mancos shale delineation with 25 producing wells in the high pressure, dry gas window and 1 producing well in the liquids window
    • Over 2,280' thick pay section across Mancos, Niobrara, and Carlile may support 5 distinct benches for up to 20 wells per section
  • Significant underutilized midstream assets include gathering lines, water storage, industrial water rights, SWD wells, high-pressure gas lift lines, and compression allow for immediate development ramp up with minimal infrastructure investment