Encana Corp. (NYSE, TSX: ECA) has sold 188,000 net acres in the Wind River Basin to private investment firm Aethon Energy Management and its partner, RedBird Capital Partners LLC.

The Wyoming properties are located in the Moneta Divide and were purchased from Encana subsidiary Encana Oil & Gas (USA) Inc.

The asset was described by Aethon as a low-risk resource with a long reserve life and low cost drilling opportunities.

Few details about the transaction, including the deal value, were released. However, since at least 2013, Encana has been working with the federal government and partners, including a subsidiary of ConocoPhillips (NYSE: COP) toward the development of 4,250 oil and gas wells and associated infrastructure in the Moneta Divide.

The Moneta Divide project encompassed 265,000 acres of land in Fremont and Natrona counties, Wyo. In the state, oil and gas records list six Encana units: five in Fremont and Natrona countries and one in Sweetwater County, Wyo.

Most of the acreage is on public lands administered by the U.S. Department of the Interior’s Bureau of Land Management (BLM). The southern portion of the project included a product pipeline associated with the project on public lands in Sweetwater County, Wyo.

The life of the proposed project was estimated to be 40 years.

The Moneta Divide was intended to be an expansion of a previous project known as the Gun Barrel, Madden Deep and Iron Horse Natural Gas Development Project. As of June 2012, about 820 oil and gas wells had been drilled in the area, according to the BLM. The project was expected to create hundreds of jobs.

A draft Environmental Impact Statement (EIS) for the project is expected to be released in January 2016, BLM said in February.

In 2013, Encana’s project lead said the Moneta Divide was of great importance to the company.

“The Moneta Divide project is one of Encana’s top priorities,” the Casper Star Tribune quoted project lead Paul Ulrich as saying. “We believe this project has the potential to be a resource play, which means it’s very significant to us to get through the EIS process in a timely manner.”

The project area drew some parallels to Encana’s Jonah properties in Wyoming, which were sold in May 2014 for proceeds of $1.6 billion, after closing adjustments.

Aethon was founded in 1990 by Albert Huddleston to acquire and develop oil and gas assets in North America. Aethon said the acquisition of the Moneta Divide assets continue its long track record of best-in-class operations in an environmentally responsible manner.

“Aethon has a legacy of operating in the Rockies. We are pleased to expand our holdings with these operated assets in the Wind River Basin and welcome 42 talented new employees to our team,” said Gordon Huddleston, an Aethon partner.

“The staff at Encana has been great to work with throughout this process. Additionally, we have enjoyed the opportunity to partner with RedBird on this transaction and look forward to working with them in the future,” he said.

Aethon was advised by Capital One Securities Inc., Crowley Fleck PLLP and Weil, Gotshal & Manges LLP. RedBird was advised by Evercore and Gardere Wynne Sewell LLP.