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July 2015

Encana and Sanchez 2nd Quarter Reports

Posted by bernell on July 24, 2015

EnCana Corporation gave its 2nd quarter report on Friday, July 24 while Sanchez Energy gave its quarterly report on Wednesday, July 15.

EnCana, the largest producer in the TMS, never mentioned the TMS by name.  Rather, the focus was on 4 other "assets" or shale plays where efforts were being focused.  Two hundred employees were laid off and the capital expenditures were only planned for these four places.  One question mentioned the TMS and other assets where a lot of efforts were focused in 2014 as to what the price of oil would need to be to get these plays going again and the answer I gathered was that they were always evaluating things.

So, what I gathered was that EnCana was taking a "pause" here for now.  The possibility of selling the TMS holdings of course exists, also, but EnCana management will announce any sales whenever they announce them.  They won't talk about them up front.

Sanchez Energy mentioned the TMS as a part of its report that the Bloomer 2H was in the process of being brought into production sometime during the 3rd quarter of 2015.

What do you think about it?