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Encana Sells Bighorn Gas Assets To Apollo

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June 27, 2014

Encana Corp. (TO: ECA.TO, NYSE: ECA), Canada’s largest natural gas producer, agreed to sell its Bighorn assets in Alberta to Apollo Global Management LLC (NYSE: APO) for about US$1.8 billion as the company continues its shift into oil production, Bloomberg said June 27.

The sale includes about 360,000 acres along with interests in pipelines, facilities and service arrangements, Calgary-based Encana said June 27 in a statement. Total net proved reserves at the end of 2013 were approximately 1.1 trillion cubic feet equivalent, about 75% of which is natural gas.

Encana ...

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