Freeport uproots from shale, heads for deepwater

FREEPORT-McMoRan Oil and Gas has entered into a definitive purchase and sale agreement to sell its Eagle Ford shale assets for $US3.1 billion ($A3.32 billion) to Encana Corporation.

The sale of the company's entire Eagle Ford assets, covering approximately 18,400 net hectares, is expected to produce around $2.