Encana Corporation (Encana) says that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc., has completed the previously announced sale of its Haynesville natural gas assets, located in northern Louisiana, to GEP Haynesville, LLC (GeoSouthern), a joint venture formed by GeoSouthern Haynesville, LP and funds managed by GSO Capital Partners LP.

Total cash consideration to Encana under the transaction is US$850 million, subject to normal closing adjustments. In addition, through the transfer of current and future obligations, Encana is reducing its gathering and midstream commitments by US$480 million on an undiscounted basis. The transaction has an effective date of January 1, 2015.

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