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2016 to be important for Firestone’s Encana and its sale of Colorado assets to Broe Group

Posted on: Jan 30 16

by: admin

The first half of 2016 will be telling for a $900 million deal between Encana Corp., which has an operations center in Firestone Co and Crestone Peak Resources, a company 95 percent owned by Canada Pension Plan Investment Board and 5 percent by The Broe Group of Denver.

The deal, whereby Encana would sell its Colorado assets to Crestone, originally was expected to close at the end of 2015 but was delayed for up to six months at year-end. Encana’s holdings in the Denver-Julesburg Basin include 51,000 net acres and more than 1,600 wells.

The new venture would operate as a stand-alone business, with Broe assembling a management team for the firm.  (from BizWest)

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