Encana sells Bighorn assets to Jupiter Resources for $1.8B

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

Encana (ECA) agrees to sell its Bighorn assets in the Alberta Deep Basin to Jupiter Resources for ~$1.8B.

The sale includes ~360K net acres of land along with ECA's working interests in all pipelines, facilities and service arrangements; total net proved reserves at the end of 2013 were ~1.1B cfe, with 75% of those reserves being natural gas.

Jupiter Resources is a portfolio investment of funds managed by affiliates of Apollo Global Management (APO).