Encana Sells North Texas Natural Gas Properties For $975M

Law360, New York (November 3, 2011, 6:28 PM EDT) -- A subsidiary of energy giant Encana Corp. has agreed to sell its North Texas natural gas properties to partnerships managed by EnerVest Ltd. for $975 million, Encana announced Thursday.

Encana Oil & Gas (USA) Inc. and the EnerVest-led group signed the deal late Wednesday, an Encana spokesman said. The transaction is expected to close sometime in December.

The North Texas properties, located in the Barnett Shale, currently produce about 125 million cubic feet, or 20,833 barrels, per day. The sale includes associated pipelines on 50,000 net...
To view the full article, register now.