Encana in talks to sell Wyoming natgas field to Carlyle, NPG - Reuters
Canadian oil and gas producer Encana Corp is in advanced talks to sell its Wyoming natural gas field to private equity firms Carlyle Group LP and NGP Energy Capital Management LLC for about US$2 billion, the Wall Street Journal reported on Sunday, citing unnamed sources. The company has been looking to sell its holdings in the so-called Jonah field as it shifts its focus away from natural gas to drilling for more valuable oil and natural gas liquids, the report said. The Carlyle Group acquired a 47.5 percent stake in energy investor NGP Energy Capital Management for US$424 million in December 2012 to boost its natural resources investments.
17 March 2014•1 min read
