Key Developments: Encana Corporation (ECA.N)

ECA.N on New York Stock Exchange

21.38USD
1 Oct 2014
Price Change (% chg)

$0.17 (+0.80%)
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$21.21
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Latest Key Developments (Source: Significant Developments)

Encana completes sale of bighorn assets in Alberta for $1.8 bln
Tuesday, 30 Sep 2014 06:00pm EDT 

Encana Corp:Announces the sale of its Bighorn assets in Alberta to Jupiter Resources for a purchase price of about $1.8 billion.Sale includes about 360,000 net acres of land along with all of Encana's working interests in pipelines, facilities and service arrangements related to the Bighorn properties.  Full Article

Encana Corp announces transformative acquisition of Athlon Energy Inc
Monday, 29 Sep 2014 06:00am EDT 

Encana Corp and Athlon Energy Inc:Jointly announced that the two companies have entered into a definitive merger agreement for Encana to acquire all of the issued and outstanding shares of common stock of Texas-based Athlon by means of an all-cash tender offer for $5.93 bln ($58.50 per share).As well as Encana assuming Athlon's $1.15 bln of senior notes, for a total transaction value of about $7.1 bln.Athlon shareholders will receive cash consideration of $58.50 per share, which represents a premium of 28 pct over the average trading price of Athlon stock for the last 20 days and a 25 pct premium over the trading price of Athlon stock at market close on Sept. 26.Encana is being advised by Tudor, Pickering, Holt & Co. and Barclays as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP, Vinson & Elkins LLP and Blake, Cassels & Graydon LLP as legal advisors.Athlon is being advised by Evercore Group L.L.C. and Goldman, Sachs & Co., as financial advisors, and Latham & Watkins LLP, as legal advisor.  Full Article

Encana Corp and PrairieSky Royalty complete $2.6 bln secondary offering
Friday, 26 Sep 2014 08:09am EDT 

Encana Corp and PrairieSky Royalty Ltd:Completed secondary offering of 70,200,000 common shares of PrairieSky at a price of $36.50, for aggregate gross proceeds to Encana of about $2.6 bln.Says offering was made on a bought deal basis through a syndicate of underwriters co-led and joint bookrun by TD Securities Inc., CIBC, BMO Capital Markets and RBC Capital Markets. Encana no longer holds any interest in PrairieSky.  Full Article

Encana Corp and PrairieSky Royalty announce $2.6 bln secondary offering
Monday, 8 Sep 2014 04:14pm EDT 

Encana Corp:Says the company and and PrairieSky Royalty Ltd (PrairieSky) announced that they have entered into an agreement with a syndicate of underwriters joint bookrun by TD Securities Inc., CIBC, BMO Capital Markets and RBC Capital Markets.Pursuant to which the underwriters will purchase from Encana, on a bought deal basis, 70,200,000 common shares of PrairieSky at a price of $36.50 per Share, for aggregate gross proceeds to Encana of about $2.6 billion.Offering is expected to close on or about Sept. 26 and all proceeds of the Offering will be payable to Encana.Following closing of the Offering, Encana will no longer hold an interest in PrairieSky.  Full Article

Encana Corp declares cash dividend
Wednesday, 23 Jul 2014 08:00pm EDT 

Encana Corp:Says on July 23, declares a dividend of $0.07 per share.Payable on Sept. 30, to common shareholders of record as of Sept. 15.  Full Article

Encana Corp reaches agreement to sell Bighorn assets to Jupiter Resources
Friday, 27 Jun 2014 07:00am EDT 

Encana Corp:Reached an agreement with Calgary, Alberta-based Jupiter Resources.To sell its Bighorn assets for about $1.8 bln (C$2.0 bln).Sale includes about 360,000 net acres of land along with Encana's working interests in all pipelines, facilities and service arrangements.Net proved reserves at end of 2013 (on an SEC basis) were about 1,100 bln cubic feet equivalent (Bcfe), with about three quarters of those reserves being natural gas.  Full Article

Encana Corporation announces over-allotment option exercised in connection with PrairieSky Royalty
Tuesday, 3 Jun 2014 08:11am EDT 

Encana Corporation:In connection with the initial public offering of 52,000,000 common shares of PrairieSky at an offering price of $28.00.Says over-allotment option granted to the underwriters to purchase up to an additional 7,800,000 common shares at the offering price has been exercised in full for additional.Says aggregate gross proceeds to Encana of $218.4 mln.Sale of the additional common shares by Encana pursuant to the over-allotment option brings the aggregate gross proceeds to Encana from the offering to about $1.67 bln and results in Encana holding 54 pct of the common shares of PrairieSky.Offering was made through a syndicate of underwriters co-led and joint bookrun by TD Securities Inc. and CIBC.  Full Article

Encana Corp prices $1.46 billion initial public offering of Prairiesky Royalty
Thursday, 22 May 2014 07:25pm EDT 

Encana Corp:Has priced the initial public offering of 52,000,000 common shares of PrairieSky Royalty Ltd a wholly owned subsidiary of Encana, at $28.00 per common share for aggregate gross proceeds to Encana of about $1.46 billion.PrairieSky has filed the final prospectus dated May 22 in respect of the offering.The offering, which is being conducted by way of a secondary offering by Encana, is being made through a syndicate of underwriters co-led and joint bookrun by TD Securities Inc and CIBC.The underwriters have been granted an over-allotment option to purchase up to an additional 7,800,000 common shares at the offering price until 30 days after closing, if exercised in full, will increase the aggregate gross proceeds to Encana to about $1.67 billion.  Full Article

Encana Corp declares dividend of $0.07 per share
Monday, 12 May 2014 08:00pm EDT 

Encana Corp;:Declares dividend of $0.07 per share payable on June 30, 2014 to common shareholders of record as of June 13, 2014.  Full Article

Jonah Energy completes acquisition of Jonah field operations in Wyoming from Encana Corp
Monday, 12 May 2014 01:40pm EDT 

Jonah Energy LLC:Completed the acquisition of the Jonah field operations located in Sublette County, Wyoming, from Encana Oil & Gas (USA) Inc., a subsidiary of Encana Corporation for a purchase price of about $1.8 billion effective Dec. 1, 2013, subject to customary purchase price adjustments.  Full Article

CANADA STOCKS-TSX set to open lower as weak global data dents sentiment

Oct 2 - Canada's main stock index looked set for a lower start on Thursday as weak global manufacturing activity and an Ebola health scare in the United States spooked world markets. December futures on the S&P TSX index <0#SXF:> were down 0.14 percent at 0740 ET. No major economic events are scheduled for Thursday The index dropped to a near four-month low on Wednesday as worries about a slowdown in U.S. factory activity and news of the first confirmed case of Ebol

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