Deal Insight

Encana sells Bighorn gas asset to Jupiter Resources for US$1.8 billion

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02 July 2014

Encana sells Bighorn gas asset to Jupiter Resources for US$1.8 billion

Report summary

Encana is selling its Bighorn asset in Alberta's Deep Basin to Jupiter Resources (Apollo Global Management LLC affiliate) for US$1.8 billion (Cdn$2.0 billion). The asset includes 360,000 net acres of land and 1.1 bcfe (75% natural gas) of net proved reserves. We value Bighorn at US$1.7 billion (Cdn$1.8 billion), reflecting an implied long term Henry Hub gas price of US$4.69/mcf.

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
    • Encana
    • Jupiter
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 11 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Bighorn production profile - including upside
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Oil & gas pricing and assumptions: Table 3
  • Upstream portfolio: strategic fit of regions
  • Gearing: Financial stretch (US$80/bbl low price)

What's included

This report contains:

  • Document

    Encana sells Bighorn gas asset to Jupiter Resources for US$1.8 billion

    PDF 1001.39 KB