Encana Completes Sale of Its Piceance Natural Gas Assets
July 26 2017 - 6:45AM
Encana Corporation (TSX:ECA) (NYSE:ECA) (Encana) announced today
that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc.,
has completed the previously announced sale of its Piceance natural
gas assets, located in northwestern Colorado, to Denver-based
Caerus Oil and Gas LLC (Caerus).
BMO Capital Markets served as Encana's financial
advisor and Davis, Graham & Stubbs acted as Encana’s external
legal counsel for the transaction. Evercore and TD Securities acted
as financial advisors for Caerus and Vinson & Elkins and
Thompson & Knight acted as legal counsel. Debt financing for
Caerus was underwritten by TD Securities, J.P. Morgan and Wells
Fargo Bank.
Encana CorporationEncana is a
leading North American energy producer that is focused on
developing its strong portfolio of resource plays, held directly
and indirectly through its subsidiaries, producing oil, natural gas
liquids (NGLs) and natural gas. By partnering with employees,
community organizations and other businesses, Encana contributes to
the strength and sustainability of the communities where it
operates. Encana common shares trade on the Toronto and New York
stock exchanges under the symbol ECA.
Further information on Encana Corporation is
available on the company’s website, www.encana.com, or by
contacting:
Investor contact:
Brendan McCracken
Vice-President, Investor Relations
(403) 645-2978
Patti Posadowski
Sr. Advisor, Investor Relations
(403) 645-2252
Media contact:
Simon Scott
Vice-President, Communications
(403) 645-2526
Jay Averill
Director, Media Relations
(403) 645-4747
SOURCE: Encana Corporation