ECA says the deal creates North America’s second largest producer of unconventional resources, with pro-forma Q3 production of 577K boe/day, including liquids production of ~300K bbl/day.
The acquisition includes ~360K net acres in the core of the STACK/SCOOP in the Anadarko Basin and contains multiple commercial and prospective zones which ECA believes are "perfectly suited to its proven cube development model."
ECA says it plans to raise its dividend by 25% and expand its share buyback program to $1.5B following the close of the transaction.
ECA +16.3% pre-market.
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