Encana to sell San Juan assets for $480mn

Encana is selling its San Juan basin assets in New Mexico for $480mn to Denver-based DJR Energy.

The assets including about 182,000 net acres, with about 5,400 b/d of oil equivalent of output in 2017. Of that, liquids production was 3,900 b/d.

The deal is part of the company's plan to shore up its balance sheet, with a focus on assets that generate higher value. The deal is expected to close in the fourth quarter.