Energy producer Encana has agreed to sell its Bighorn holding in Canada for about $1.8 billion to another Canadian company, the privately held Jupiter Resources.
Encana said Friday the sale includes about 360,000 acres of land in Canada with total net proved reserves of about 1.1 trillion cubic feet equivalent, mostly natural gas. It also includes Encana's working interests in all pipelines, facilities and service arrangements.
"Bighorn is a high quality asset that has not been receiving significant investment in 2014," Encana CEO Doug Suttles said in a statement. "Going forward, it should serve as an excellent foundational asset for Jupiter Resources."