Previously, Encana Corporation (USA) (NYSE:ECA) announced that they were implementing the sales of its Gordondale and DJ Basin assets. Today they further announced that they have successfully completed the sales stage of Gordondale and DJ Basin assets.
The new successful owners
Birchcliff Energy Ltd. (TSX: BIR) located in Calgary, Alberta has successfully purchased Gordondale assets based in northwestern Alberta from Encana. This purchase retains an effective date of January 1, 2016. Boasting 39 years of experience, this sale came at an expense of $625 million and consists of 54, 200 acres of land and infrastructure with relevance to development.
Crestone Peak Resources is the successful buyer of Denver-Julesburg (DJ) Basin Assets which formally was an Encana owned Subsidiary. This transaction retains an effective date of April 1, 2015. Crestone Peak Resources (Crestone) is 5 % owned by The Broe Group, the outstanding 95 % of ownership is retained by Canada Pension Plan Investment Board. This sale came at an expense of $900 million to Crestone Peak Resources.
The Encana Corporation
The Encana Enterprise is a North American energy producer that retains responsibility for the development and production of natural gas, oil, as well as natural gas liquids which are also known as (NGL’s). Through holdings either directly or indirectly in connection with Encana subsidiaries, Encana maintains focus on developing an immense portfolio of resource plays.
Through effective relations and partnership with the community, the employees, community organizations as well as various other businesses, Encana is able to aid both the strength as well as the sustainability of the communities where Encana is based.
Often Encana goes under the stock exchange using the symbol ECA, retaining common shares with Toronto as well as the New York Stock Exchange.
The next step of the Encana Corporation, as well as of the two new proud owners Birchcliff Energy as well as Crestone Peak Resources is unknown. Promises are made by both Birchcliff energy as well as Crestone Peak Resources to put their new assets into useful and productive implementation.
