Encana Corporation completed the sale of certain Clearwater assets, located in southern and central Alberta, to Ember Resources Inc. for a purchase price of approximately $605 million, before adjustments.
The sale includes about 1.2 million net acres of land, over 6,800 producing wells and approximately 180 million cubic feet equivalent per day (mmcfe/d) of natural gas production. The effective date of the sale is July 1, 2014.
Encana is a North American energy producer that is focused on developing its portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs).
Ember Resources is a producer in unconventional gas resources with an operational base that is concentrated in several core areas within the Horseshoe Canyon coal trend located in Alberta.
Encana was represented in-house by Danielle Parrotta, Associate General Counsel and by Burnet, Duckworth & Palmer LLP with a team that included Stuart Money (energy), Jody Wivcharuk (competition) and Gina Ross (employment).
Ember Resources was represented by Norton Rose Fulbright Canada LLP with a team that included Wayne Fedun (energy), Rujuta Patel (competition), Bernette Ho (employment) and Jordan Sharkey (energy).