Encana Oil & Gas (USA), a subsidiary of Canadian energy firm Encana Corporation, has closed the sale of the majority of its natural gas producing assets in North Texas in the US.
Encana has received proceeds of about $860m for those assets.
The receipt of the remaining proceeds, subject to closing conditions that Encana expects to complete in the first quarter of 2012.
Encana on 3 November 2011, has agreed to sell its natural gas producing assets in North Texas for about $975m.
Recently, Encana also closed the sale of its interest in the Cabin Gas Plant, which it agreed to sell for about $215m.
These divestiture closings till date have generated proceeds of about $1.1bn and these two sales are part of Encana's previously announced divestitures that are expected to generate about $3.5bn in proceeds.
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