While some players in the Anadarko Basin’s Scoop/Stack play have seen better days, the company formerly known as Encana Corp. said one-fourth of its 2019 free cash flow was delivered by assets in the basin.

“With a rate of return of about 50%, this play not only competes within our portfolio, but … it is competitive with the very best shale plays across North America,” Ovintiv CEO Doug Suttles said on a recent call with analysts. “We’ve outperformed initial expectations through rapid cost reductions and consistent well performance. We expect these trends to continue just like we’ve demonstrated everywhere else we operate.”

The results come nearly a year after the newly renamed and relocated Denver-based Ovintiv acquired Newfield Exploration Co. along with its oil-weighted stacked-pay asset with multiple zones—which proved to be ideal for Ovintiv’s cube development model.

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