EnCana Corp. has closed a previously announced sale of some non-core conventional natural gas assets that produce approximately 7,250 boe/d after royalties (9,400 boe/d before royalties) to a Calgary-based producer for $219 million. The company said it would use the sale proceeds for general corporate purposes, including debt repayment. The sale is part of a divestiture program EnCana announced when it bought Denver-based Tom Brown Inc. in April (see Daily GPI, July 26). Since then, the Calgary-based producer has reached agreements to sell close to $900 million in assets, which produce 28,000 boe/d. So far this year, EnCana has sold conventional, non-core properties producing about 50,000 boe/d for total proceeds of $1.3 billion. Including all 2004 acquisitions and divestitures, EnCana still expects to grow production by 15% this year to between 725,000 and 765,000 boe/d.

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