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Strategies & Market Trends : Speculating in Takeover Targets

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To: richardred who wrote (2835)	10/11/2011 10:45:51 AM
From: richardred	Read Replies (2) of 7242

Encana to Sell Some Colorado Assets for $590 Million Encana Corp. agreed to sell some of its natural-gas midstream assets in the Piceance region of Colorado to a private midstream company for about $590 million as part of a continuing divestiture program. The asset sale comes as North America's second-largest natural gas producer struggles to cope with a long period of low natural gas prices, and after a $5.5 billion joint venture to develop shale gas in Canada with PetroChina Co. collapsed earlier this year. Encana said once the sale is complete, expected in the fourth quarter, its net divestitures for the year will be about $600 million. The company also said it is on track to meet or exceed its goal of $1 billion to $2 billion of net divestitures by around year's end. sec.online.wsj.com

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