Encana stays course in lean times

Sharon McLeay
Times Contributor

 

Lean times for Encana have shown a 55 per cent reduction to their capital programs and a halt to new well drills for 2016.
However, the company is maintaining production, maintenance and remediation on its 3719 existing wells.
“It has been challenging times with the price drop since 2014,” said Dave Serfus, Encana land surface manager. “No-one expects it to come back up anytime soon.”
Serfus said there are a lot of people contacting Encana looking for work. They are continuing to work closely with local businesses and municipalities to pick up any available work. He said they have established a good work synergy with stakeholders in the past and will continue that trend.
Programs like Courtesy Matters will continue, to keep safety measures at the top of everyone’s mind. He mentioned that three wellheads were damaged last year and five have been hit already this year. Anyone in the county with concerns can contact the Courtesy Matters phone line at 1-888-568-6322.
“Looking at percentages the Ag community is doing a great job, but we would like to see zero accidents,” said Serfus. “The wellheads in Wheatland County are unique as they are a low profile design, which poses some challenges.”
He said the company is trying to pinpoint risk sites and some of those have had concrete barriers placed around them. There was some discussion about charging for damage done to wellheads due to sheer negligence as the repairs can work into thousands of dollars. The company has not done so yet.
The contributions to local charities are reduced. Serfus said the lower profits have a ripple effect across company programs.
The current average price per barrel of crude oil is $44.86. Council thanked the Encana representatives for keeping them informed and indicated they were aware that prices paid at the pump are due in large part to taxation. They indicated that they were discussing with the province the impact high gas prices are having on municipalities and Albertans.