Encana Corp. and Crestone Peak Resources, which is 95 per cent owned by the Canada Pension Plan Investment Board, have announced that Encana expects the previously announced sale of its subsidiary Encana Oil & Gas Inc.’s Denver Julesburg Basin assets in Colorado to close by the end of July 2016.
“Crestone remains committed to closing the acquisition of Encana’s DJ assets in the coming weeks and we are excited to welcome Encana’s DJ team into Crestone,” said Avik Dey, managing director and head of natural resources at Canada Pension Plan Investment Board.
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“We are pleased to have finalized the details of the transaction and both Encana and Crestone are committed to closing the deal by the end of July 2016,” said Doug Suttles, president and chief executive officer at Encana.
The sale had an effective date of April 1, 2015.
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