Encana (ECA) Leaps on Haynesville Sale

Encana Corporation

shares rocketed 7.4% to $6.26 on reaching an agreement to sell 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 $850 million. Share volume totaled 381,000, compared to an all-day average of 1.9 million