June 9, 2017 / 11:08 AM / 2 months ago

BRIEF-Encana to sell its Piceance natural gas assets for $735 mln

1 Min Read

June 9 (Reuters) - Encana Corp:

* Encana announces agreement to sell its Piceance natural gas assets

* Encana Corp - total cash consideration to Encana under transaction is $735 million

* Encana Corp - deal for $735 million

* Encana Corp says has reached an agreement to sell its piceance natural gas assets, located in northwestern colorado, to denver-based caerus oil and gas llc

* Encana Corp - ‍ in addition, encana will reduce its midstream commitments by approximately $430 million, on an undiscounted basis​

* Encana Corp says estimated year-end 2016 proved reserves were 814 billion cubic feet equivalent (BCFE)

* Encana Corp - ‍ in addition, Encana will market Caerus' production related to assets

* Piceance assets include approximately 550,000 net acres of leasehold and approximately 3,100 operated wells Source text for Eikon: Further company coverage:

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