CALGARY, Aug. 27, 2019 /CNW/ - Encana Corporation's (NYSE,
TSX: ECA) wholly owned subsidiary, Newfield Exploration
Mid-Continent Inc., today closed on its previously announced sale
of its natural gas assets in Oklahoma's Arkoma Basin. Proceeds from the sale will be
used to reduce the Company's debt.
Encana's Arkoma assets included
approximately 140,000 net acres of leasehold and production of
approximately 77 million cubic feet equivalent per day (98% natural
gas). The Company's full-year proforma production guidance range of
560 – 600 thousand barrels of oil equivalent per day remains
unchanged.
CIBC Griffis & Small provided advisory services to Encana
for the transaction. Davis, Graham & Stubbs LLP served as
Encana's external legal counsel.
Further information on Encana Corporation is available on the
Company's website, www.encana.com, or by contacting:
Investor
contacts:
(281)
210-5110 (403)
645-3550
|
Media
contact:
(281)
210-5253
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/encana-closes-on-sale-of-arkoma-basin-natural-gas-assets-300907950.html
SOURCE Encana Corporation