Encana to sell some natural gas assets in Alberta for C$605 mln

Wed Oct 8, 2014 8:30am EDT
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Oct 8 (Reuters) - Encana Corp said it would sell some of its natural gas assets in southern and central Alberta for about C$605 million ($541 million), as it continues to focus on lucrative oil and natural gas liquids.

The sale of a majority of the Clearwater assets to Ember Resources Inc includes about 1.2 million net acres of land and over 6,800 wells with average natural gas production of about 180 million cubic feet equivalent per day in the second quarter.

Encana, Canada's largest natural gas producer, said it would retain about 1.1 million net acres in Clearwater, including around 480,000 net acres along the eastern edge of the Horseshoe Canyon Fairway. ($1 = C$1.1180) (Reporting by Ashutosh Pandey in Bangalore; Editing by Savio D'Souza)