Encana has agreed to sell to an undisclosed buyer 90,000 net acres located in Leon and Robertson counties in East Texas for US$530 million. The primary targets are conventional dry gas zones from the Cotton Valley and Bossier gas formations and horizontal Eaglebine/Woodbine potential. This deal is in line with Encana’s recent moves to raise cash from the sale of its non-core assets, while it reorients its business toward liquids-led growth.
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