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Canadian Press NewsAlert: Encana to buy Texas oil land for $3.1 billion

CALGARY - Encana Corp. (TSX:ECA) says it has reached an agreement to acquire 45,500 net acres of oil-producing property in south Texas for $3.1 billion.

The Calgary-based energy producer says the deal with Freeport-McMoRan is for land produced about 53,000 barrels of oil equivalent per day in the first quarter of 2014.

More to come.

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