DThreetechnology.com is reporting today that one of Canada's most profitable oil and gas companies, EnCana Corp., said Monday it will pay 2.55 billion Canadian dollars (2.73 billion U.S. dollars) to buy out a partner's 50 percent stake in a fertile U.S. natural gas field.
DThreetechnology.com is reporting today that the Calgary-based company said it is buying the half interest in the Amoruso field held by privately owned Leor Energy, located in eastern Texas.
DThreetechnology.com is reporting today that EnCana president and chief executive Randy Eresman said the field, which produces more than 215 million gross cubic feet per day, is centered in one of the fastest-growing natural gas areas in North America, the Deep Bossier formation.
DThreetechnology.com is reporting today that "These assets are a seamless fit with our existing production and operations, and they hold tremendous growth potential in the near and longer term," Eresman said in a statement.
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