Haynesville Shale: Encana ( ECA ) 10/23/08 - Operational Update

Encana ( ECA ) has come out with their earnings report as well as their operational report including the Haynesville Shale and Horn River Shale. Operating earnings up 40 percent to $1.92 per share or $1.4 billion

Haynesville Shale: In the third quarter of 2008, we strengthened our position in the Haynesville gas resource play by acquiring 25,000 net acres, increasing ourland position to about 400,000 net acres, plus 63,000 net acres of mineral rights. We continue to see great potential in this promising shale play,"Eresman said. "EnCana, along with our partner, Shell Exploration & Production,has an industry-leading land position in this area of Louisiana. We currently have six rigs running with a focus on cost reduction and completion optimization. We will target drilling and completing the first well in themid-Bossier shale in the fourth quarter.

Horn River Shale: At HornRiver in British Columbia, EnCana and partner Apache Corporation have completed seven wells this year, with one of our most recent wells delivering encouraging results, flowing for the first 30 days at an average of almost8 MMcf/d."

Montney Shale: In northeast British Columbia and northwestern Alberta, our already strong land position in the Montney play hasexpanded to more than 700,000 acres. With that, EnCana has the largest disclosed land base in this emerging unconventional gas field.