Encana to sell Bighorn assets for about $1.8B

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Associated Press

Posted on June 27, 2014 at 6:01 AM

Updated Friday, Jun 27 at 6:02 AM

Energy producer Encana says it is selling its Bighorn land, pipeline and service arrangement assets for about $1.8 billion to another Canadian company, Jupiter Resources.

Encana says the sale includes about 360,000 acres of land in Canada with mostly natural gas reserves. Encana says it has not made a significant investment in the assets this year.

Encana Corp. produces natural gas, oil and natural gas liquids. It has been working to become more efficient and narrow its focus on five North American areas, as opposed to the dozens it had been exploring.

The companies expect the Bighorn deal to close by the end of the third quarter.

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