Current ECA Stock Info

Two more coming online by year-end

On September 20th Encana (ticker: ECA) announced a successful startup of the Tower processing plant. The Tower plant is the first of three Veresen Midstream facilities that support Encana in the Montney. The other two facilities, Sunrise and Saturn, are planned to start up by mid-October and before year-end, respectively.

The three new plants will contribute to doubling Encana’s liquid production from the Montney between Q4 2016 to Q4 2017, the company said in a press release. As drilling continues in the region, the facilities will increase production until their capacity is reached.

According to Veresen Midstream, the Tower gas plant will be able to process 200 MMcf/d of sweet gas. The plant also has 25,000 bbl of NGL storage and full line rate deliver to Pembina’s NGL system. Both the Sunrise and Saturn are predicted to process 400 MMcf/d of sweet gas.

Because of the agreement between Encana and Veresen Midstream, Encana is enabled to construct and operate the three plants, as well as future building opportunities. Veresen Midstream owns and funds the facilities while Encana pays Veresen though a fee-for-service agreement.Source: Veresen Midstream

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