Encana to sell some Texas gas assets for $530 mln

April 29 Tue Apr 29, 2014 8:15am EDT

April 29 (Reuters) - Encana Corp , Canada's largest natural gas producer, said on Tuesday it had agreed to sell about 90,000 net acres in east Texas for about $530 million to an undisclosed buyer.

The combined areas located primarily in Leon and Robertson counties had average production of about 100 million cubic feet per day (MMcf/d) of natural gas and about 1,200 barrels per day (bpd) of total liquids in 2013.

Encana has been shedding assets under Chief Executive Doug Suttles, who wants the company to cut its dependence on natural gas, prices of which have slumped after a shale boom in the United States. (Reporting by Ashutosh Pandey in Bangalore; Editing by Don Sebastian)

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