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Encana makes a US$7.1 billion move into the Permian
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Report summary
Encana has acquired Permian-focused Athlon Energy for US$7.1 billion, marking its entry into the super-hot Permian Basin and its second big tight oil acquisition of 2014. Encana has now repositioned its portfolio to include Eagle Ford (near-term) and Permian (medium-term) growth to complement existing liquids-rich Montney and Duvernay acreage. The market has reacted positively to the turnaround story, with the share price up 29% since the start of the year.
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