Law360, New York (April 20, 2012, 1:41 PM ET) -- Encana Corp. said Friday it has sold a royalty stake in a coalbed methane field to Japan's Toyota Tsusho Corp. for $606 million, providing Canada's biggest gas driller a powerful hedge against decade-low gas prices.
In return for its investment, spread over seven years, Toyota will get a 32.5 percent interest in production from the gas field, which contains probable reserves of about 480 billion cubic feet. That shakes out to about $3.86 per million cubic feet for Encana — more than double the trading price...
Encana Finds Gas Price Hedge In $600M Toyota Deal
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