Wick & Trautwein, LLC
Call Today
Local: 970-237-5694
Toll Free: 866-686-1410

Encana selling off Colorado oil field

Encana is an oil and gas company based out of Canada, but many people in Denver have become familiar with it over the years, as the headquarters for the U.S. operations are in the city. Additionally, the company has been working for a time in the Denver-Julesburg Basin, also known as the DJ Basin.

That's all going to change, though, as it's been announced that the company is going to sell off the oil field. The sale will go to both the Canada Pension Plan Investment Board, or the CPPIB, and to the Broe Group, which is already based out of Denver. Reports are that the sale is in the area of $900 million.

There are about 51,000 acres that will be part of the transaction. The Canada Pension Plan Investment Board is the primary buyer, as it will have a 95 percent interest when all is said and done. The Broe Group will control the other five percent.

This move will push Encana out of Colorado entirely. At the same time, though it may only be buying five percent, the Broe Group will continue its recent moves to invest in this industry, which have been notable lately. In a statement, the officials for the group noted that they were going to set up a company to operate in the basin, but that they had not done so yet, and they had not even named that company.

The sale of a business on a scale like this can be very complex, and it's important for all parties to be fully aware of what legal steps have to be taken to make things official.

Source: Denver Business Journal, "Encana bails out of Colorado oil field in $900M deal with Denver firm," Oct. 08, 2015

No Comments

Leave a comment
Comment Information
  • Lead Counsel Rated | LC
  • BBB | Accredited Business
  • 10 Best 2017 Attorney | Client Satisfaction | American Institute Of Family Law Attorneys
  • Preeminent AV | LexisNexis Martindale-Hubbell | PeerReviewRated
  • Best's Client Recommended Insurance Attorneys Listed Over 25 Year

Fort Collins Office
323 South College Avenue #3
Fort Collins, CO 80524

Toll Free: 866-686-1410
Phone: 970-237-5694
Fax: 970-482-8929
Fort Collins Law Office Map

Estes Park Office
513 Big Thompson Ave
Estes Park, CO 80517

Phone: 970-586-3505
Fax: 970-586-3269
Estes Park Law Office Map

Windsor Office
421 Main Street
Windsor, CO 80535

Toll Free: 866-686-1410
Map & Directions

Review Us
Providing You With The Information You Need To
Make The Right Choices For Your Future

We Take Your Emails Seriously

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy