Encana Teams With New Investors In Jonah Field
CASPER, Wyo. (AP) — Encana Corp. is getting help developing natural gas in Wyoming’s Jonah field.
The Associated Press reported Monday that the subsidiary of a Texas company, Contango Oil & Gas, and other investors have formed Exaro Energy II LLC. Exaro has agreed to spend $380 million in the field over five years and will get 32.5 percent interest in a 5,700-acre portion.
Encana drilled 71 wells in the field last year and will remain the operator there.
In February, Encana announced a joint venture with Northwest Natural Gas Co. of Portland, Ore. to develop natural gas in Jonah field.