United States

Encana Corp (ECA.N)

ECA.N on New York Stock Exchange

28 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Encana Corporation announces C$1.25 billion bought deal offering
Wednesday, 4 Mar 2015 04:17pm EST 

Encana Corporation:Enters into an agreement with a syndicate of underwriters led by RBC Capital Markets, Credit Suisse and Scotiabank.Pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 85,616,500 common shares of Encana at a price of C$14.60 per Share for gross proceeds of about C$1.25 bln.Encana has granted the underwriters an over-allotment option to purchase up to an additional 12,842,475 mln Shares at the Offering Price, exercisable for a period of 30 days after closing of the Offering.If the Over-allotment Option is exercised in full, the aggregate gross proceeds from the Offering will be about C$1.44 bln.Net proceeds are expected to strengthen Encana's balance sheet and provide Encana with additional financial flexibility by reducing Encana's long-term debt and interest expense.Intends to use net proceeds from the Offering, along with cash on hand and, if required, other sources of funds including under its credit facilities, to redeem all of its $700 mln aggregate principal amount of 5.90 pct Notes due 2017.Also redeems all of its C$750 mln aggregate principal amount of 5.80 pct Medium Term Notes (Series 4) due 2018, pursuant to the terms of their respective indentures.Says offering is expected to close on or about March 16.Therefore, investors in the Offering will not be eligible to receive the dividend payable on March 31 to shareholders of record on March 13.  Full Article

Encana Corporation declares dividend
Wednesday, 25 Feb 2015 06:00am EST 

Encana Corporation:Declares dividend of $0.07 per share payable on March 31, to common shareholders of record as of March 13.  Full Article

Encana Corp completes sale of Clearwater assets for C$605 mln
Thursday, 15 Jan 2015 04:31pm EST 

Encana Corp:Completed previously announced sale of certain Clearwater assets in Alberta to Ember Resources Inc. for purchase price of about C$605 mln.Sale includes about 1.2 million net acres of land, over 6,800 producing wells and about 180 million cubic feet equivalent per day (mmcfe/d) of natural gas production.  Full Article

Encana Corp 's indirect subsidiary to complete transformative acquisition of Athlon Energy
Thursday, 13 Nov 2014 08:00am EST 

Encana Corp:Says the cash tender offer made by Alenco Acquisition Company Inc., Encana's indirect, subsidiary to acquire all of the issued and outstanding shares of common stock of Athlon Energy Inc. expired on Nov. 12.Says all shares that were validly tendered into the offer and not validly withdrawn have been accepted for payment.Says promptly following consummation of the offer, Alenco Acquisition will be merged with and into Athlon, and Athlon will become an indirect, subsidiary of Encana.Encana expects to complete the offer and the merger on Nov. 13.Says the completion of the previously announced $7.1 bln acquisition of Texas-based Athlon gives the company a 140,000 net acre position in the oil-rich Permian Basin.  Full Article

Encana Corp declares dividend of $0.07 per share
Wednesday, 12 Nov 2014 06:00am EST 

Encana Corp:Declares dividend of $0.07 per share.Payable on Dec. 31.Says to common shareholders of record as of Dec. 15.  Full Article

Encana announces extension of tender offer to acquire Athlon Energy
Monday, 3 Nov 2014 06:30pm EST 

Encana Corp:Says its indirect, wholly owned subsidiary to acquire all of the issued and outstanding shares of common stock of Athlon Energy for US$58.50 per share, net to the seller in cash, without interest, less any applicable withholding taxes, has been extended until 12:00 midnight on Nov. 12.  Full Article

Encana reaches agreement to sell Clearwater assets to Ember Resources
Wednesday, 8 Oct 2014 08:00am EDT 

Encana Corp:Reaches an agreement with Ember Resources Inc. (Ember) to sell majority of its Clearwater assets, located in southern and central Alberta.Says for about C$605 mln.The sale includes about 1.2 mln net acres of land and over 6,800 producing wells with second quarter average production of about 180 mln cubic feet equivalent per day (mmcfe/d) of natural gas.  Full Article

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

BRIEF-Encana Corp files for mixed shelf of up to $6 bln

* Intends use net proceeds from sale of securities to finance capital expenditures, to reduce outstanding indebtedness Source text : http://bit.ly/29ZYyqD] Further company coverage: (Bengaluru Newsroom; +1 646 223 8780)