EnCana Corp. (ECA) trading halted with news pending
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EnCana (ECA) Enters JV with PetroChina (PTR) Unit in Alberta; Will Receive C$2.18B
December 13, 2012 12:21 PM ESTEnCana Corp. (NYSE: ECA) has entered into a joint venture arrangement with Phoenix Duvernay Gas (Phoenix), a wholly owned subsidiary of PetroChina (NYSE: PTR), to explore and develop Encana's extensive undeveloped Duvernay land holdings in west-central Alberta. Under the terms of the agreement, Phoenix will gain a non-controlling 49.9% interest in Encana's approximately 445,000 acres in the Duvernay play for total consideration of C$2.18 billion.
At closing C$1.18... More
