By OGJ editors
HOUSTON, May 15 -- StarPoint Energy Trust agreed to pay $326 million for conventional oil and gas assets from EnCana Corp. Both companies are based in Calgary.
The transaction, expected to close by June 30, includes properties in central and southern Alberta producing about 6,400 b/d of oil equivalent after royalties. The production is about 86% oil and gas liquids. EnCana plans to reduce debt with the sale proceeds.
Since the start of 2004 and including this divestiture, EnCana has sold 84,000 b/d of oil equivalent conventional production, generating $6 billion.
