April 29 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
(Reporting by Ashutosh Pandey in Bangalore; Editing by Don