Canadian independent Encana is to sell its assets in the Arkoma basin in eastern Oklahoma to an undisclosed buyer for $165 million in cash, writes Caroline Evans.
The deal is expected to close later in the third quarter of this year.
The assets to be sold were acquired earlier this year in Encana’s $7.7 billion takeover of Newfield Exploration and include about 140,000 net acres of leasehold and current production of about 77 million cubic feet equivalent per day, 98% of which is natural gas.
