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Encana Sells Jonah Field Assets to TPG for $1.8 Billion

Encana Corp., Canada’s largest natural gas producer which is seeking to boost investor returns by shifting to oil, said it will sell its Jonah field operations in Wyoming to private-equity fund TPG Capital for $1.8 billion.

Encana’s Jonah field assets comprise about 24,000 acres and more than 1,500 active wells, the Calgary-based company said today in a statement. Their estimated year-end proved reserves in 2013 were about 1.49 billion cubic feet equivalent.