“Encana divests Haynesville natural gas assets for $850M”
Encana Oil & Gas (USA) Inc., a subsidiary of Encana Corp. (TSX: ECA) (NYSE: ECA), has agreed to sell its Haynesville natural gas assets, located in northern Louisiana, to GEP Haynesville LLC (GeoSouthern), a joint venture formed by GeoSouthern Haynesville LP and funds managed by GSO Capital Partners LP.
Jefferies LLC, Credit Suisse and Gordon Arata McCollam Duplantis & Eagan, LLC advised Encana on the transaction. GeoSouthern was advised by Kirkland & Ellis and Thompson & Knight. The sale is expected to close in the fourth quarter of 2015 with an effective date of January 1, 2015.