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.
“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.