Encana Corporation announced today that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc., expects the previously announced sale of its DJ Basin assets to Crestone Peak Resources, 95 percent owned by Canada Pension Plan Investment Board and five percent by The Broe Group, to close in the second quarter of 2016.
Encana and Crestone Peak Resources remain committed to closing this transaction and Crestone Peak Resources has increased its deposit. Material terms of the transaction, including the purchase price, remain unchanged.
The sale has an effective date of April 1, 2015 and includes all of Encana’s DJ Basin acreage in Colorado, comprising 51,000 net acres.
Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs). By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates. Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.