Encana Corp (NYSE:ECA) is one of the most vibrant energy companies in North America. The business guru works closely with its large number of employees to generate high levels of natural gas, natural gas liquids and oil. It was today that the company made the announcement regarding the sale of the San Juan assets.
A close outlook
Encana Oil & Gas (USA) Inc is one of this company’s subsidiaries and reports indicate that it is the one conducting that sale of the assets. It expects to obtain about US$480 million from the sale.
The CEO of Encana Encana said, “This transaction is consistent with our strategy and our objective of delivering quality returns to our shareholders. It adds to our financial strength and is aligned with our focus on maximizing the value of our assets and disciplined allocation of capital.”
Suttles sees this particular year as one of the most exciting ones they have ever experienced as a company. The official says they will do all within their means towards ensuring that they generate high levels of cash flow.
Asides from that, he also looks forward to seeing the company showcase remarkable growth. Suttles says it is about time they give a clear demonstration of both the quality and vibrancy of the business they have decided to set up.
The current state of affairs
The company’s expansive and diversified San Juan assets have attracted interest from quite a significant number of the interested parties. It takes immense pride in the 182,000 net acres that it owns.
It was in the previous year that the business guru spoke in relation to the high production it witnessed. It got almost 5,400 barrels of oil on a daily basis.
The company hopes for the best in line with the sale. This transaction will be subject to the various customary closing adjustments and conditions.
This company’s CEO has spoken in relation to the current government policies in Canada. The official sees these policies as unfavorable for the gas and oil drilling activities in the area. People following closely on the matter are looking forward to see the government’s next move.