Encana to sell New Mexico assets to PE-backed DJR for $480 mln
Calgary-based energy company Encana Corp has agreed to sell its San Juan assets in New Mexico to DJR Energy LLC, a Denver, Colorado-based oil and gas explorer and producer. In a separate release, Encana said the purchase price is US$480 million ($621 million). The deal, expected to close in Q4 2018, includes about 182,000 net acres, which produced about 5,400 barrels of oil equivalent per day last year. DJR said acquiring the assets will help it become a "dominant player" in the San Juan Basin. DJR launched in 2017 with the backing of U.S. private equity firms Trilantic Capital Management, Waveland Energy Partners and Global Energy Capital.
1 October 2018•3 mins read
