Encana starts up second Montney plant ahead of schedule and under budget; condensate growth to expand margins and drive quality returns

CALGARY, Alberta, Oct. 05, 2017 (GLOBE NEWSWIRE) — (TSX:ECA) (NYSE:ECA) Encana successfully started up the Sunrise processing plant on September 27, under budget and more than one month ahead of original schedule. Sunrise is the second of three processing plants that support Encana’s condensate-focused growth plan in the Montney.

In parallel with the Sunrise and Tower facilities ramping up, the third plant, Saturn remains ahead of schedule and is on track to start up before year-end. In addition, the Towerbirch lateral pipeline which connects all three plants to the NGTL system started up on October 1.

“Our ability to deliver complex projects ahead of schedule and under budget demonstrates the strength of our execution capabilities,” said Doug Suttles, Encana President and CEO. “The new processing and midstream infrastructure now in place firmly supports our growth plan in the Montney, which is a key driver to expanding our corporate margin and delivering quality returns.”

Encana’s innovative midstream agreement with Veresen Midstream enables Encana, via the Cutbank Ridge Partnership, to construct and operate the Tower, Sunrise and Saturn plants, as well as any future build opportunities, on behalf of Veresen Midstream on a contracted basis. Veresen Midstream funds and owns the facilities and Encana pays to use them through a fee-for-service agreement.

Encana Corporation Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing oil, natural gas liquids (NGLs) and natural gas. By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates. Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.