Manitok Energy inks lease deal with Encana; plans to spend $106M

CALGARY—Manitok Energy Inc is acquiring additional petroleum and natural gas leases in southeast Alberta from Encana Corp.

The Calgary-based junior energy company says Encana has agreed to a three-year lease covering 38,757 hectares in the Entice area.

Manitok will have a 100 per cent working interest in the leases, which are contiguous with its core areas.

It has committed to spend $106-million over the period, including $22-million in 2014.