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Tag Archives: Athlon Energy

Encana cuts budget after 85 pct fall in operating profit

Encana Corp, Canada’s largest natural gas producer, slashed its capital budget by a quarter for the year due to a slump in global crude oil prices. The company had been for the past several quarters directing its funds to boost oil production to reduce exposure to natural gas volatility. Encana posted an 84.5 percent drop in fourth-quarter operating profit as ...

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Mergers and acquisitions rebound in 2014

As the old saying goes, “business was good” in 2014, literally. Along with initial public offerings (IPOs) surging last year, mergers and acquisitions (M&A) involving oil and gas exploration and production companies rose 23 percent in 2014. M&A deals managed to survive despite the steep drop in crude prices towards the end of the year. According to an end-of-the-year report ...

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Encana’s operating profit nearly doubles on higher oil production

Nov 12 – Encana Corp, Canada’s largest natural-gas producer, said its quarterly operating profit jumped 87 percent due to higher production of oil and natural gas liquids. The company, under Chief Executive Doug Suttles, has been focusing on boosting production of oil and natural gas liquids (NGL) after years of weak profits caused by its reliance on natural gas production. ...

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Encana buying Athlon Energy for $5.93 billion

NEW YORK (AP) — Oil and natural gas company Encana is buying Athlon Energy Inc. for $5.93 billion in an effort to boost is oil production by tapping into Texas’s booming Permian Basin. Canada’s Encana Corp. will also assume $1.15 billion in debt, bringing the transaction’s total value to approximately $7.1 billion. Encana, a major natural gas producer, has been ...

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Athlon Energy Announces Northern Midland Basin Acquisitions

Athlon athlon energy

* Reuters is not responsible for the content in this press release. Athlon Energy Announces Northern Midland Basin Acquisitions Athlon Energy (NYSE: ATHL) (“Athlon”, or the “Company”) today announced that it has entered into multiple definitive agreements with five unrelated third-party sellers to acquire certain producing properties and undeveloped acreage for an aggregate purchase price of $873 million in cash. The ...

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