Encana Corp. doubled its oil production — and signaled the Canadian company was serious about its move into the oil patch — with a $3.1 billion purchase of about 45,500 acres in Eagle Ford oil play in southern Texas.
Encana (NYSE: ECA) is buying the acreage, via Denver-based subsidiary Encana Oil & Gas (USA) Inc., from the Phoenix-based oil, gas and minerals company Freeport-McMoRan.
The acreage has produced about 53,000 barrels of oil per day during the first quarter, and the two companies…
Encana Corp. doubled its oil production — and signaled the Canadian company was serious about its move into the oil patch — with a $3.1 billion purchase of about 45,500 acres in Eagle Ford oil play in southern Texas.
Encana (NYSE: ECA) is buying the acreage, via Denver-based subsidiary Encana Oil & Gas (USA) Inc., from the Phoenix-based oil, gas and minerals company Freeport-McMoRan.
The acreage has produced about 53,000 barrels of oil per day during the first quarter, and the two companies…