Seeking Alpha

WSJ: Apollo in talks to acquire Encana's Bighorn natural gas properties

  • Apollo Global Management (APO) is in talks to acquire Encana's (ECA) Bighorn natural gas producing properties in Alberta, which could fetch ~$1.8B, WSJ reports.
  • ECA has been reducing its exposure to natural gas because of falling prices; in recent weeks, it has sold its Jonah field gas properties in Wyoming and announced its intention to sell gas properties in east Texas.
  • APO, however, has been showing interest in natural gas assets, recently agreeing to commit $700M in funding to oil and gas producer Zenergy (ZENG).
Comments (2)
  • rjj1960
    , contributor
    Comments (1370) | Send Message
     
    What a mistake separating into ECA and CVE, they should of remained as a single company. What a monster it would have been.
    12 Jun 2014, 07:46 PM Reply Like
  • lenniefalcon
    , contributor
    Comments (23) | Send Message
     
    I'm surprised that Appollo isn't buying the whole company and spinning it off themselves.
    12 Jun 2014, 10:09 PM Reply Like
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