Encana looks for partners in a number of regions

Thu Mar 29, 2012 1:35pm GMT
 

SINGAPORE, March 29 (Reuters) - Encana Corp is looking for a joint venture partner to help it develop a number of oil and natural gas assets in North America, Chief Executive Randy Eresman said.

The Canadian company is looking for a single partner for a package of assets that could include Encana's position in the Collingwood shale, the Tuscaloosa Marine shale, the Mississippi Lime and the Eaglebine shale in the United States, Eresman said, speaking on the sidelines of a conference in Singapore. The package of assets could also include the company's position in Canada's Duvernay shale, he said.

"One of the things we have been trying to do is to get more liquids, particularly oil, in our portfolio," Eresman said. "But because of the high initial cost on that, we think it might be best to reduce our risk so to accelerate that point of commercialization by bringing in another party."

Eresman said the process could launch "in the next weeks to a month."

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