Encana Corp. has announced that Encana Oil & Gas – a wholly owned subsidiary of the company – has complete the sale of its Haynesville natural gas assets to a joint venture (JV) formed by GeoSouthern Haynesville and funds managed by GSO Capital Partners – GEP Haynesville. The assets are located in northern Louisiana, US.
The transaction includes 112 000 net acres of leasehold, as well as additional fee mineral lands. Combined, these make up Encana’s entire position in northern Louisiana.
The transaction is valued at US$850 million, subject to normal closing adjustments. Furthermore, Encana is scaling back its gathering and midstream commitments by US$480 million without discount through the transferral of both current and future agreements.
Edited from press release by David Rowlands
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/13112015/encana-sells-haynesville-natural-gas-assets-1623/