Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/encana-completes-sale-of-clearwater-assets-for-605.shtmlEncana completes sale of Clearwater assets for $605 million
Encana Corporation has completed the previously announced sale of certain Clearwater assets in Alberta to Ember Resources
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Encana Corporation has completed the previously announced sale of certain Clearwater assets in Alberta to Ember Resources Inc. for a purchase price of approximately C$605 million. The sale includes about 1.2 million net acres of land, over 6,800 producing wells and approximately 180 million cubic feet equivalent per day (mmcfe/d) of natural gas production.
"We enter 2015 focused on furthering our strategy and protecting our balance sheet with plans to not add any incremental debt through the year," said Sherri Brillon, Encana's Chief Financial Officer. "With the closure of this sale, along with expected proceeds from our recently-announced Montney midstream agreement, we continue to competitively position ourselves to thrive throughout the commodity price cycle."
