* Says premature to speculate on size or value of any
potential deals
* Plans partnerships for about 375,000 net acres in Alberta
Duvernay
April 2 (Reuters) – Encana Corp said it will speed
up commercialization of its oil and liquids-rich assets through
partnerships, but the company did not say how much the deals
were valued at.
Last week, Encana launched a formal search for a partner to
help develop properties in the United States and Canada with
potential for lucrative oil and liquids-rich natural gas, as it
struggled with chronically depressed prices for dry gas.
“At this point, it is premature to speculate on the size or
value of any potential transaction,” said Canada’s largest
natural gas producer and one of the biggest in North America.
Encana said it plans to market partnership opportunities
covering about 375,000 net acres in the Alberta Duvernay.
The company, which has land positions in liquids-rich areas
such as the Tuscaloosa Marine shale, the Utica/Collingwood
formations in Michigan and Eaglebine in East Texas, also said it
is looking at partnerships to accelerate the commercialization
of about 1.2 million net acres within these areas.
“Accelerating the rate of development on our oil and
liquids-rich land holdings can be achieved by leveraging
third-party capital which shortens our development timelines,
reduces our cost structures,” Chief Executive Randy Eresman
said.
