WSJ: Encana in talks to sell Wyoming natural gas field to Carlyle

|About: Encana Corporation (ECA)|By:, SA News Editor

Encana (ECA) is in advanced talks to sell its Wyoming natural gas assets to P-E firms Carlyle Group (CG) and Natural Gas Partners for ~$2B, WSJ reports.

ECA has been looking to sell its holdings in the Jonah field as it shifts its focus away from natural gas to drilling for more valuable oil and natural gas liquids.

Jonah, one of North America's largest gas fields, last year produced ~415M cf/day of gas and 6.1K bbl/day of oil and gas liquids, such as propane and ethane.

A sale to Carlyle and NGP would mark the pairing's first major deal since Carlyle bought a 47.5% stake in NGP in 2012.