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).

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Comments (2)
  • rjj1960
    , contributor
    Comments (1470) | 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 (41) | 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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