Encana (ECA) to Sell Gordondale Assets in C$625M Deal
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Encana Reaches Agreement to Sell Gordondale Assets for C$625 Million
June 21, 2016 4:31 PM EDTCALGARY, AB -- (Marketwired) -- 06/21/16 -- (TSX: ECA)(NYSE: ECA)
Encana Corporation announced today that it has reached an agreement to sell its Gordondale assets in northwestern Alberta to Birchcliff Energy Ltd. (TSX: BIR) for a total cash consideration of C$625 million.
The sale includes approximately 54,200 net acres of land and associated infrastructure. In addition, through the transfer of current and future obligations, Encana is reducing midstream and downstream commitments by more than C$100 million on an undiscounted basis.... More
