Canadian giant Encana has agreed to sell gas assets in the Piceance basin in north-western Colorado in the US to Denver-based conventional player Caerus Oil & Gas for $735 million in cash.
The assets, which are non-core to Encana, include about 550,000 net acres of leasehold and some 3100 operated wells.
The Calgary-based company counts four key areas among its core operations – the Permian and Eagle Ford tight-oil plays in the US, and the Montney and Duvernay shale plays in Canada.
