Encana Corporation (ECA)

[Timothy Smith]

Encana (NYSE:ECA) +6.4% premarket after agreeing to sell its Denver Julesburg Basin assets in Colorado for ~$900M to an entity 95% owned by Canada Pension Plan Investment Board and 5% by The Broe Group.

The assets produced an average of 52M cf/day of natural gas and 14.8K bbl/day of crude oil and natural gas liquids in H1.

ECA says the deal brings total cash proceeds from divestitures in 2015 to ~$2.7B and expects to reduce net debt in 2015 by $3B by year-end.