Encana plans to sell off its gas-producing and midstream assets in the Barnett Shale as part of the company's plans to "high-grade" its portfolio, reduce debt and increase its exposure to oil and natural gas liquids. The North Texas assets it has put on the block currently produce around 125 million cubic feet of gas equivalent per day (MMcfe/d) and include associated processing and pipeline facilities on about 52,000 net acres of land in the Fort Worth Basin. Encana aims to complete the divestment by the end of 2011 or the beginning of 2012. Calgary-based Encana picked up the assets when it acquired independent producer Tom Brown in 2004. Encana was mainly attracted to Tom Brown's Rocky Mountain holdings but went ahead and developed the Barnett acreage, which accounts for a mere 4% of its anticipated production of around 3.5 billion cubic feet equivalent for 2011.
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