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Encore Energy agrees to acquire oil properties

Fri Dec 28, 2007 7:31pm EST

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SEATTLE, Dec 28 (Reuters) - Encore Energy Partners (ENP.N) said on Friday it agreed to acquire oil and natural gas producing properties from Encore Acquisition Co (EAC.N) for $250 million in cash and equity.

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Encore Energy will acquire properties in the Permian and Williston Basins with proven reserves of 10.8 million barrels of oil equivalent and current production of 1,800 barrels of oil equivalent a day. (Reporting by Daisuke Wakabayashi, editing by Richard Chang)

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