October 1, 2018 / 12:12 PM / 22 days ago

UPDATE 1-Encana to sell New Mexico assets for $480 mln

(Adds background on Encana’s plan)

Oct 1 (Reuters) - Encana Corp said on Monday it would sell its San Juan assets in New Mexico for $480 million to privately held oil and gas producer DJR Energy Llc.

The San Juan assets include about 182,000 net acres, which produced about 5,400 barrels of oil equivalent per day in 2017.

As part of a five-year plan to boost output, Encana is focusing on high-margin, liquids-rich production from the Montney and Duvernay oilfields in Canada and the Eagle Ford and Permian in the United States.

Last year, the Calgary-based company decided to sell its Piceance natural gas assets in northwestern Colorado to privately held Caerus Oil and Gas LLC for $735 million.

Reporting by Shanti S Nair in Bengaluru; Editing by Arun Koyyur

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