Encana completes sale of Haynesville natural gas assets

Encana Corp.’s (TSX: ECA)(NYSE: ECA) wholly owned subsidiary, Encana Oil & Gas (USA) Inc., has completed the sale of its Haynesville natural gas assets, located in northern Louisiana, to GEP Haynesville LLC (GeoSouthern), a joint venture formed by GeoSouthern Haynesville LP and funds managed by GSO Capital Partners LP.

Total cash consideration to Encana under the transaction is $850 million. In addition, through the transfer of current and future obligations, Encana is reducing its gathering and midstream commitments by $480 million on an undiscounted basis. The transaction has an effective date of Jan. 1.

The transaction includes 112,000 net acres of leasehold, plus additional fee mineral lands. Collectively, they represent Encana's total position in northern Louisiana.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...