BUZZ-Encana Corp: Exploring Haynesville gas assets sale - Bloomberg

Mon Apr 20, 2015 2:25pm EDT
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** Canada's largest natural gas producer's shares up 4 pct at C$16.59, U.S.-listed shares up 4 pct at $13.58

** Company is considering selling its natural gas properties in Haynesville Shale basin acreage in Louisiana, Bloomberg reports, citing sources

** Citigroup Inc has begun reaching out to buyers for Encana's Haynesville Shale basin acreage, which is valued at as much as $1 billion

** Encana bought the first Haynesville lease in 2005 and currently holds more than 350,000 acres of land in the area

** Up to Friday's close, company's Toronto-listed stock had fallen 38 pct in the past year, while its U.S.-listed stock had fallen 44 pct