Encana Oil & Gas (USA) Inc. completed the sale of its Haynesville natural gas assets in northern Louisiana to GEP Haynesville LLC, parent company Encana Corp. (ECA) said Nov. 12.
GEP Haynesville is a joint venture between GeoSouthern Haynesville LP and funds managed by GSO Capital Partners LP.
There are 112,000 net acres of leasehold, plus additional fee mineral lands. Collectively, they represent Encana's total position in northern Louisiana.
Encana will receive US$850 million, and will reduce its gathering and midstream commitments by US$480 million on an undiscounted basis. The transaction’s effective date is Jan. 1, 2015.
Encana Corp. is based in Calgary, Alberta.
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