Canadian oil and gas producer Encana Corporation is in advanced talks to sell its Wyoming natural gas field to private-equity firms Carlyle Group LP and NGP Energy Capital Management LLC for about $2 billion, the Wall Street Journal reported on Sunday, citing unnamed sources. The company has been looking to sell its holdings in the so-called Jonah field as it shifts its focus away from natural gas to drilling for more valuable oil and natural gas liquids, the report said.Representatives for the Carlyle Group and Encana were not immediately available for comment.The Carlyle Group acquired a 47.5 percent stake in energy investor NGP Energy Capital Management for $424 million in December 2012 to boost its natural resources investments.
Shares of CG fell by 0.88% or $-0.29/share to $32.60. In the past year, the shares have traded as low as $23.85 and as high as $39.38. On average, 593416 shares of CG exchange hands on a given day and today's volume is recorded at 954953.
Encana Corporation (Encana) is a North American energy producer. Shares of ECA traded higher by 0.85% or $0.17/share to $20.23. In the past year, the shares have traded as low as $16.48 and as high as $20.58. On average, 5115490 shares of ECA exchange hands on a given day and today's volume is recorded at 3649585.
Encana Corporation (Encana) is a North American energy producer. Shares of ECA traded higher by 1.13% or $0.25/share to $22.46. In the past year, the shares have traded as low as $17.40 and as high as $22.79. On average, 2301160 shares of ECA.TO exchange hands on a given day and today's volume is recorded at 1424261.
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