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Energy

Suncor, EnCana look to sell assets -paper

Oct 5 (Reuters) - Suncor Energy Inc SU.TO and EnCana Corp ECA.TO plan on shedding non-core assets as part of their plan to concentrate on their oil sands operations, the Globe and Mail said, citing investment sources.

The paper said Suncor, Canada’s largest energy company, is looking to shed 400 million cubic feet of natural gas production, estimated at C$2 billion ($1.85 billion), following its takeover of Petro-Canada.

EnCana, the country’s No. 2 oil and natural gas exploration company, is looking to offload an annual C$500 million in gas assets over the next few years from its subsidiary Cenovus Energy Inc, the paper added.

Representatives of Suncor and EnCana could not be immediately reached for comment outside regular business hours. (Reporting by Biswarup Gooptu in Bangalore, editing by Will Waterman) ($1=C$1.08)

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