Encana (ECA) announces a joint venture with a PetroChina (PTR) unit to explore and develop its undeveloped Duvernay land holdings in Alberta; ECA will receive $2.18B in exchange for a 49.9% interest in its ~445K acres in the Duvernay play. With the formation of the JV, ECA expects to more than double its planned pace of development in Duvernay beginning early in 2013. ECA shares halted. [View news story]
I am a 'hungry for stock market knowledge' new DIY investor.
I own EnCana and would like to know how this new venture will affect this company's stock price.
Encana (ECA) announces a joint venture with a PetroChina (PTR) unit to explore and develop its undeveloped Duvernay land holdings in Alberta; ECA will receive $2.18B in exchange for a 49.9% interest in its ~445K acres in the Duvernay play. With the formation of the JV, ECA expects to more than double its planned pace of development in Duvernay beginning early in 2013. ECA shares halted. [View news story]
I own EnCana and would like to know how this new venture will affect this company's stock price.