Thursday, August 25, 2011

Encana to Sell Barnett Shale Position

Encana Corp. announced today that it will sell its holdings in the Barnett Shale.  The company has retained an investment bank and will seek to close a deal at the end of 2011 or beginning of 2012.  Encana has 52,000 net acres in the Barnett currently producing about 125 MMcf/day.  A transaction would also include the company's pipeline and treatment facilities.

Encana describes the transaction as a strategic move to offload a mature field so that it can focus on its earlier stage investments, not a sale for the purpose of generating capital.

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