14 C
Fort St. John
Sunday, April 21, 2019
9924 101 ave Fort St. John, B.C.
Advertisement
Home News Encana signs deal with Chinese company

Encana signs deal with Chinese company

Advertisement

 

Encana Corporation and PetroChina International Investment Company Limited have signed a deal giving PetroChina part of its Cutbank Ridge business assets in both B.C. and Alberta.

PetroChina would pay $5.4 billion to acquire a 50 per cent stake in Encana’s business assets.

- Advertisement -

Encana officials say the partnership deal includes the majority of Encana’s stake in the Montney, Cadomin, as well as other assets across the two provinces.

They say the agreement took more than nine months to settle and that, through the joint venture, they expect to accelerate their development and a longer-term development plan for the assets.

The deal relies on both companies obtaining regulatory approval by the Canadian and Chinese governments.

get the latest news in your inbox

Author

Advertisement

Local Events

Must Read

BC Wildfire Service reminding residents to use caution when burning outdoors

PRINCE GEORGE, B.C. - With Northeastern B.C. experiencing warm and dry weather conditions, the B.C. Wildfire Service is asking residents and industry personnel to...