EnCana Corp., which is splitting into a natural-gas producer and a separate oil company, may sell $500 million to $1 billion in gas assets per year that aren’t profitable enough.
EnCana is a major driller in Colorado.
“We always say that we want to sell the bottom 5-10 percent of our portfolio,” executive vice president Mike Graham said in an interview.
Canada’s largest gas producer has shed about $1 billion in assets this year, Graham said from his Calgary office.
EnCana is looking for a buyer for interests in about 600 wells in the Green River Basin of Wyoming that produced the equivalent about 27.9 million cubic feet a day in the first half of the year, according to Scotia Waterous, which is marketing the sale.
Bids for the assets, 94 percent of which are gas, are due Nov. 3.
