ECA is selling Gordondale, including future commitments, to Birchcliff for C$625 mm. While the deal is dilutive to CFPS and RENAV, Gordondale was at the bottom of
ECA’s priority list in terms of future Montney drilling, and the deal strengthens the balance sheet. No change to our Underperform ranking and US$6.50/share target price.
22 Jun 2016
Encana Announces Sale of Gordondale Assets for C$625 mm
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Encana Announces Sale of Gordondale Assets for C$625 mm
Encana (ECA:TSE) | 0 0 (-1.2%) | Mkt Cap: 13,467m
- Published:
22 Jun 2016 -
Author:
Michael P. Dunn -
Pages:
7
ECA is selling Gordondale, including future commitments, to Birchcliff for C$625 mm. While the deal is dilutive to CFPS and RENAV, Gordondale was at the bottom of
ECA’s priority list in terms of future Montney drilling, and the deal strengthens the balance sheet. No change to our Underperform ranking and US$6.50/share target price.