Encana to enter oil-rich Texas with Athlon acquisition

Posted on Friday, October 10th, 2014 at 5:02 pm    

Encana Corp. is making its way into the oil and natural gas-rich Permian region of Texas after it announced its plan to buy Athlon Energy, an online Calgary Herald report stated on September 29.

Encana plans to buy the Texas-based energy firm for a little less than $6 billion and to assume its debt worth more than $1 billion. With this deal, the company envisions producing 250,000 barrels of oil per production day by 2017, which is five times what it produced last year. The company also believes the acquired land provides the company with around 5,000 possible new drilling spots.

Selling your mineral rights to healthy and well-footed companies in the oil production sector is a guaranteed way to ensure that you get the best value out of your property. The professionals at The Mineral Auction can provide you a wide portfolio of businesses who can buy your rights when you call our office at (512) 698-2802 today.

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