Encana Corp. says its wholly owned subsidiary, Newfield Exploration Mid-Continent Inc., has signed a deal to sell its natural gas assets in Oklahoma’s Arkoma Basin for $165-million.
The buyer was not disclosed.
The assets produce the equivalent of approximately 2.2 million cubic metres of gas a day.
Encana chief executive Doug Suttles says the deal shows the company’s commitment to value from its non-core assets.
The agreement is subject to closing conditions, regulatory approvals and other adjustments.
It is expected to close in the third quarter.