Key Developments: Encana Corporation (ECA)

ECA on New York Consolidated

17.82USD
26 Nov 2014
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Latest Key Developments (Source: Significant Developments)

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of Athlon Energy Inc. expired on Nov. 12.Says all shares that were validly tendered into the offer and not validly withdrawn have been accepted for payment.Says promptly following consummation of the offer, Alenco Acquisition will be merged with and into Athlon, and Athlon will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

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

PrairieSky Royalty to buy Range Royalty in C$699 million deal

- Canada's PrairieSky Royalty Ltd , which was spun off from EnCana Corp earlier this year, said it would buy peer Range Royalty Ltd Partnership in a deal worth C$699 million to gain exposure to the Viking light oil field in Saskatchewan.

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