Upstream sources indicated the pair were nearing a deal that would see Australis significantly expand its TMS holdings at the same time as Encana exits the play.
A sales price could not be immediately determined.
TMS talks near the end
Australian explorer Australis Oil & Gas is in negotiations with Encana to buy the Canadian giant’s position in the Tuscaloosa Marine shale (TMS) play in the US states of Mississippi and Louisiana.
24 February 2017 0:00 GMT
Updated
24 February 2017 0:00 GMT
