Encana Corp was formed in 2002. The Company is a North American energy producer that is engaged in developing diverse resource plays producing natural gas, oil and NGLs. It is also engaged in marketing of natural gas, oil and NGLs. The Company's reportable segments are Canadian Operations; USA Operations; and Market Optimization. Canadian Operations includes the exploration for, development of, and production of natural gas, oil and NGLs and other related activities within Canada. Plays in Canada include: Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and Other Upstream Operations including Wheatland in southern Alberta, Deep Panuke located offshore Nova Scotia and Other and emerging. Other and emerging includes Horn River in northeast British Columbia USA Operations includes the exploration for, development of, and production of natural gas, oil and NGLs and other related activities within the U.S. Plays in the U.S. include: Eagle Ford in south Texas; Permian in west Texas; and Other Upstream Operations including DJ Basin in northern Colorado, San Juan in northwest New Mexico, Piceance in northwest Colorado and Other and emerging. Other and emerging includes Tuscaloosa Marine Shale in east Louisiana and west Mississippi. Market Optimization activities are managed by the Midstream, Marketing & Fundamentals team, which is responsible for the sale of the Company's proprietary production and enhancing the associated netback price. Market Optimization activities include third party purchases and sales of product to provide operational flexibility and cost mitigation for transportation commitments, product type, delivery points and customer diversification. Corporate and Other is not an operating segment and mainly includes unrealized gains or losses recorded on derivative financial instruments. The Company competes with other companies in the industry in the areas such as exploration for and development of new sources of natural gas, oil and NGL reserves, reserves and property acquisitions, transportation and marketing of natural gas, oil, NGLs, and diluents, access to services and equipment to carry out exploration, development and operating activities; and attracting and retaining experienced industry personnel. The Company's operations are subject to laws and regulations concerning pollution, protection of the environment and the handling and transportation of hazardous materials. These laws and regulations generally require the Company to remove or remedy the effect of its activities on the environment at present and former operating sites, including dismantling production facilities and remediating damage caused by the use or release of specified substances.
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