Encana CEO Doug Suttles

Canada’s Encana said on Tuesday it had agreed to sell 90,000 net acres in east Texas for $530 million.

The buyer of the land has not been disclosed.

The combined areas located primarily in Leon and Robertson counties had average production of about 100 million cubic feet per day of natural gas and about 1,200 bpd of total liquids in 2013.

Encana CEO Doug Suttles has been unloading assets as the company tries to cut its dependence on natural gas.

Natural gas prices have slumped after a shale boom in the United States.


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