Deal Insight

Encana sells Clearwater CBM assets to Ember Resources for US$541 million

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10 October 2014

Encana sells Clearwater CBM assets to Ember Resources for US$541 million

Report summary

Drilling efficiencies and economies of scale have brought Encana's well costs down to just Cdn$300,000, which results in a breakeven price of US$4.19/mcf for a well with an IP rate of 0.1 mmcfd. Ember cites a lower Horseshoe Canyon CBM well cost of Cdn$200,000, lowering the breakeven price to US$3.63/mcf. Even more attractive is the opportunity to recomplete existing wells into the Horseshoe Canyon Formation. Ember will need to capture this upside in order to justify the deal price.

Table of contents

  • Executive summary
  • Upstream assets
  • Deal analysis
  • Strategic rationale

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    Encana sells Clearwater CBM assets to Ember Resources for US$541 million

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