Current ECA Stock Info

By Tyler Losier, Energy Reporter, Oil & Gas 360

Encana sells Newfield Arkoma Basin natural gas assets
Encana Corporation (stock ticker: ECA), a Canadian-based company with unconventional assets in multiple North American basins, has agreed to sell its natural gas assets in Oklahoma’s Arkoma Basin to an undisclosed buyer through its wholly owned subsidiary Newfield Exploration Mid-Continent Inc.

Total cash consideration under the transaction is $165 million.

"Along with our recently announced agreement to exit China, this transaction shows our commitment to realize value from non-core assets,” said Doug Suttles, Encana’s president & CEO. “Proceeds from this sale will be directed to our balance sheet."

Source: Encana

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