Encana Sells San Juan Assets To DJR Energy For $480 Million

Encana Corp. (NYSE: ECA) is exiting another position, this time in the San Juan Basin, as the Calgary, Alberta-based company further zeros in on its four-basin strategy. Denver-based DJR Energy LLC agreed to acquire Encana’s San Juan assets located in northern New Mexico for $480 million. The assets include about 182,000 net acres. Production from the assets averaged roughly 5,400 barrels of oil equivalent per day (boe/d) in 2017, including 3,900 barrels per day of liquids. DJR is a private E&P formed in April 2017 by Dave Lehman, a former executive with Exxon Mobil Corp. (NYSE: XOM) who had been with the oil major for 27 years. The company is funded by Trilantic Capital Management LP, Waveland Energy Partners and Global Energy Capital.

https://www.shaledirectories.com/blog/encana-sells-san-juan-assets-to-djr-energy-for-480-million/