The stake at Cutbank Ridge includes both shale gas formations as well as conventional resources, said spokeswoman Carol Howes. Executives were not available to discuss the deal further, she said. Encana reports quarterly earnings tomorrow.
Date: Feb 10, 2011
Category: Business
Source: Google
PetroChina to Buy Encana Asset in Biggest Acquisition
The Encana asset purchase would be the biggest overseas acquisition by a Chinese energy company since state-controlled China Petrochemical Corp. acquired Addax Petroleum Corp. for C$8.3 billion in 2009. The stake at Cutbank Ridge includes both shale gas formations as well as conventional resources, Encana spokeswoman Carol Howes said yesterday.