Encana Corp. features a package to offer its Piceance propane resources in Co for $735-trillion (U.S.) income to Caerus Coal and Oil LLC of Colorado.
The Piceance possessions contain around 3,100 controlled wells, which made about 240 trillion cubic feet per-day of propane inside the first-quarter. In addition they made 2,178 boxes per-day of drinks.
Encana continues to be concentrating its attempts on four-core locations in Arizona and developed Europe, and marketing low-key elements of its enterprise considering that the recession on raw oil costs started in late 2014.
The Calgary-based business suggests the selling of the Piceance resources in northwestern Colorado is likely to make it better and boost its balance sheet.
As well as the bucks acquired, Encana can profit by lowering its midstream responsibilities by around $430-thousand.