Encana in talks to sell Wyoming natgas field to Carlyle, NPG -WSJ

March 16 Sun Mar 16, 2014 7:41pm EDT

March 16 (Reuters) - Canadian oil and gas producer Encana Corporation is in advanced talks to sell its Wyoming natural gas field to private-equity firms Carlyle Group LP and NGP Energy Capital Management LLC for about $2 billion, the Wall Street Journal reported on Sunday, citing unnamed sources.

The company has been looking to sell its holdings in the so-called Jonah field as it shifts its focus away from natural gas to drilling for more valuable oil and natural gas liquids, the report said.

Representatives for the Carlyle Group and Encana were not immediately available for comment.

The Carlyle Group acquired a 47.5 percent stake in energy investor NGP Energy Capital Management for $424 million in December 2012 to boost its natural resources investments.