Encana completes sale of Jonah Field properties

Encana Corp. (NYSE:ECA) said Monday that it has completed the sale of its Jonah Field properties in Wyoming.

The company valued the sale of the properties, to an affiliate of the private investment firm TPG Capital, at $1.8 billion. TPG has U.S. offices in San Francisco and Houston, among others.

Based in Calgary, Alberta, Encana is a major producer in Northern Colorado’s Denver-Julesberg basin. Its decision to sell off the Jonah Field properties, announced in March, is part of an ongoing effort to balance its portfolio between natural gas and oil assets, Denver-based spokesman Doug Hock said Monday.

SPONSORED CONTENT

Commercial Solar is a big investment, but not an overwhelming one

Solar offers a significant economic benefit for commercial property owners while also positively impacting the environment and offering a path to compliance for new municipal requirements like Energize Denver. A local, experienced solar installer will help you navigate the complexities of commercial solar to achieve financial success for your project.

“The Jonah Field is a mature asset and one that we believed another operator could invest in and continue to make successful,” Hock said.

Encana continues to own and operate properties in central Wyoming.