EnCana Sells All Interests in Chad for $202.5 Millionadmin
Canadian natural gas company EnCana Corp. said Friday its subsidiary EnCana (Chad) Holdings Ltd. closed a deal to sell its interests in Chad exploration assets to a unit of China National Petroleum Corp. for about $202.5 million.
The company said the effective date of the agreement is Oct. 1, 2006.
EnCana said it has now completed its withdrawal from exploration activities in Africa.
Encana’s U.S.-traded shares added $1.41, or 3.2 percent, to close at $46.15 on the New York Stock Exchange. The stock has ranged from $39.54 to $55.93 over the past year.