Replies to post #204 on Encana Corporation (ECA)

[Timothy Smith]

HOUSTON — Encana Corp. said Tuesday it will sell $850 million of Louisiana shale play acreage to a partnership between a closely held Woodlands oil and gas driller and a private equity firm.

The properties, located in DeSoto and Red River Parishes, Louisiana, total 112,000 net acres and 300 wells in the Haynesville Shale. After the deal closes in the fourth quarter of 2015, they’ll be owned and operated by GEP Haynesville, a joint venture between private driller GeoSouthern and private equity shop GSO Capital Partners LP.

[Timothy Smith]

$ECA opens to solid gains after reporting that its assets in the Permian, Eagle Ford, Duvernay and Montney basins produced an average of 257K boe/day in August, up 15% from 223K boe/day in Q2.