Encana completes $3.1 billion purchase of Eagle Ford acreage

HOUSTON, June 20

Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Encana Corp., has completed its previously reported $3.1 billion purchase of 45,500 net acres in Karnes, Wilson, and Atascosa counties of south Texas from Freeport-McMoRan Oil & Gas LCC, a subsidiary of Freeport-McMoRan Copper & Gold Inc. (OGJ Online, May 7, 2014).

The Eagle Ford acreage produced 53,000 boe/d in the first quarter and has an estimated drilling inventory of more than 400 locations. The deal doubles the company's current oil production.

Encana Oil & Gas (USA) Inc. has also closed on the majority of the previously reported sale of certain properties primarily in Leon and Robertson counties of East Texas, having received $427 million of the total anticipated purchase price of $530 million (OGJ Online, Apr. 29, 2014). The company says it expects to close the balance of the transaction in the third quarter.

Related Articles

Lukoil Overseas makes management appointments

07/09/2014

Lukoil Overseas has made several management appointments.

 

KKR, Riverstone to form Barnett-focused Trinity River Energy

07/09/2014 Kohlberg Kravis Roberts & Co. LP (KKR) and Riverstone Holdings LLC have signed a definitive agreement to combine the existing assets held by KK...

Suncor, GE aim to reduce GHG emissions, water usage in oil sands

07/09/2014 Suncor Energy Inc., Calgary, and GE have signed two agreements that aim to reduce greenhouse gas (GHG) emissions and water usage in the oil sands.

MARKET WATCH: Oil prices continue down on London, New York markets

07/09/2014 Crude oil prices on the New York market dropped modestly on July 8, settling down for the seventh consecutive session while oil prices on the Londo...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected