Encana Corporation's wholly owned subsidiary, Newfield Exploration Mid-Continent Inc., today closed on its previously announced sale of its natural gas assets in Oklahoma's Arkoma Basin. Proceeds from the sale will be used to reduce the Company's debt.

Encana's Arkoma assets included approximately 140,000 net acres of leasehold and production of approximately 77 million cubic feet equivalent per day (98% natural gas). The Company's full-year proforma production guidance range of 560 – 600 thousand barrels of oil equivalent per day remains unchanged.

CIBC Griffis & Small provided advisory services to Encana for the transaction. Davis, Graham & Stubbs LLP served as Encana's external legal counsel.

About Encana Corporation

Encana (TSX, NYSE: ECA) is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing oil, natural gas liquids (NGLs) and natural gas. By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates. Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.