Image - Canadas Encana to Buy Texas Oil Company for $7.1 Bn

Canada's Encana to Buy Texas Oil Company for $7.1 Bn

Canadian energy company Encana on Monday said it has agreed to buy Texas's Athlon Energy for $7.1 billion, in a bid boost the Calgary-based natural gas producer's shift into oil. Encana would pay $5.93 billion in cash for the US company, as well as assume $1.15 billion of Athlon's debt, according to a statement. The proposed price, $58.50 a share, is 25 percent higher than Athlon's Friday closing price on the New York S...

Oil and Gas - Sep 29, 2014


Image - Encana Announces Transformative Acquisition of Athlon Energy

Encana Announces Transformative Acquisition of Athlon Energy

Encana and Athlon Energy today jointly announced that the two companies have entered into a definitive merger agreement for Encana to acquire all of the issued and outstanding shares of common stock of Texas-based Athlon by means of an all-cash tender offer (the "Offer") for US$5.93 billion (US$58.50 per share), as well as Encana assuming Athlon's US$1.15 billion of senior notes, for a total transaction value of approximately US$7.1 billion. The ...

Oil and Gas - Sep 29, 2014


Image - Alfa Laval Wins SEK 120 Million Offshore Pumping Systems Order in Canada

Alfa Laval Wins SEK 120 Million Offshore Pumping Systems Order in Canada

Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has won an order to supply Framo water pumping systems to an oil drilling platform that will be located in the Atlantic Ocean off the Canadian coast. The order, booked in the Marine & Offshore Pumping Systems segment, has a value of approximately SEK 120 million and delivery is scheduled for 2015. The order consists of water pumping systems for an offshor...

Oil and Gas - Sep 29, 2014