Encana to sell Arkoma Basin gas assets, launches $213M share buyback

摘要

Encana subsidiary Newfield Exploration Mid-Continent has agreed todivest its natural gas assets in the Arkoma Basin in Oklahoma to anundisclosed buyer for C$165 million.The assets, which Encana described as noncore, include about140,000 net acres of leasehold and about 77 MMcfe/d of currentproduction, 98% of which is natural gas, according to a July 8 newsrelease. Newfield Exploration Mid-Continent is a subsidiary of NewfieldExploration, which Encana acquired in a US$5.5 billion deal in February.