Barnett Shale

EnCana Looks To Sell Barnett Shale Assets

EnCana (ECA) reported that the company is looking to sell its Barnett Shale assets in the Fort Worth Basin in Texas.  The sale is part of the company’s plans to divest between $1 billion and $2 billion in assets in 2011.

EnCana has 52,000 net acres in the Barnett Shale and these assets currently produce 125 million cubic feet of natural gas equivalents per day.

The Barnett Shale - Top Producers

During 2008, the Barnett Shale produced 1.396 Tcf of natural gas.  The top ten producers accounted for most of this production.  The top ten producers of natural gas, according to the Texas Railroad Commission are:

Company MMcf

Devon Energy - 414,413
XTO Energy - 216,929
Chesapeake Energy - 195,270
EOG Resources - 160,454
Encana - 67,409
Quicksilver Resources -  65,273
Range Resources -  41,080
Burlington - 35,170
Denbury -  28,132
Williams - 22,408

Burlington was purchased by Conoco-Phillips in 2006, but the state authorities still list Burlington as the operator of record. 

Denbury Resources recently sold 60% of its Barnett assets to a private company.

___________________________________________________________________

Do you use technical analysis to find the proper entry point before you buy a stock? Click Here for a free Trend Analysis.