Canadian natural gas firm Encana has said it is on course to deliver “one of the best value creation stories in the industry” over the next few years.
Calgary-headquartered Encana said its 2017 forecasts had been revised up thanks to lower costs and increased production.
Encana, whose core assets are in North America, said its corporate margin would be above $10 per barrel in 2017 based on price assumptions of $55 WTI.
It previously predicted a margin of $8 per barrel of oil equivalent.
Encana president and CEO Doug Suttles said: “Our performance gives us confidence that we can deliver one of the best value creation stories in our industry.
“We are one of, if not the highest performing and most efficient companies in each of our core four assets.
“Through our relentless focus on efficiency, we expect our total 2017 drilling and completion costs will be flat or down year-over-year despite inflation for some services.”