The properties being sold are located primarily in Leon and Robertson counties in East Texas, the Canadian gas giant said on Tuesday.

The combined areas total around 90,000 net acres and 2013 production averaged around 100 million cubic feet per day of natural gas and approximately 1200 barrels per day of liquids.

Chief executive Doug Suttles said: "Consistent with our strategy, this transaction builds on our efforts to unlock value from properties within our massive asset base.

"We