BRIEF-Nucor sold 50 pct equity interest in Hunter Ridge Energy Services to Encana

Tue Oct 4, 2016 9:12am EDT
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Oct 4 (Reuters) - Nucor Corp:

* Purchased 49% of Encana's leasehold interest covering approximately 54,000 acres in south Piceance basin

* Nucor sold its 50% equity interest in Hunter Ridge Energy Services LLC to Encana

* Nucor retains all existing producing wells it currently owns

* Nucor and Encana also terminated two carry and earning ("C&E") drilling agreements entered into in 2010 and 2012

* By canceling agreements, co has eliminated all future carry capital, contingent liabilities which should result in lower unit cost for future drilling Source text for Eikon: Further company coverage: