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Company News: PanCanadian, AEC to form EnCana in 'merger of equals'

02/04/2002
Canadian independent oil and gas companies PanCanadian Energy Corp. and Alberta Energy Co. Ltd. (AEC) announced plans for a "merger of equals" that would form a company worth $27 billion (Can.). The new energy firm, to be called EnCana Corp., will be based in Calgary.In addition, the UK's Centrica PLC last week said it will acquire the energy services operations of Calgary-based Enbridge Inc. for $1 billion (Can.) cash.In other company news, Oklahoma City-based Devon Energy Corp. has set February as the sale date for its oil assets in southern Sumatra. Indonesian state-owned oil company Pertamina, in partnership with the local provincial government in Jambi, has emerged as the most li...
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