BUZZ-Encana Corp: To sell Colorado assets for $900 mln

Thu Oct 8, 2015 8:46am EDT
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** Canadian energy company's U.S.-listed shares up 3.3 pct at $8.74 premarket

** Company says it will sell its Denver Julesburg Basin assets in Colorado for $900 mln as it focuses on its high-value gas liquids and oil properties

** Says the assets will be sold to a joint venture owned by Canada Pension Plan Investment Board and Broe Group

** Encana expects to reduce its net debt by $3 bln by end of the year. Total debt $7.34 bln as of Dec. 31

** Company said in August said it would sell its Haynesville, Louisiana natgass assets for $850 mln to GEP Haynesville LLC

** Up to Wednesday's close, the company's U.S. stock had fallen 39 pct this year. The Toronto-listed stock had fallen 32 percent, closing at C$11.04.