Comment on Encana Corp. completes sale of Denver-Julesburg Basin assets

Encana Corp. completes sale of Denver-Julesburg Basin assets

Encana Corp. said Friday it has completed the long-delayed sale of its oil and gas properties in the Denver-Julesburg Basin to Crestone Peak Resources. Crestone Peak Resources is 95 percent owned by the Canada Pension Plan Investment Board and 5 percent by the Broe Group, a Denver conglomerate that will oversee operations of the more than 1,600 existing wells and future drilling on the 51,000 net acres. When the $900 million deal was made public last October, the expectation was that it would close before the end of the year.

 

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