Free 7-day Trial
All Articles and Columns »

Third Avenue Management Comments on Encana

March 06, 2013 | About:
Holly LaFon

Holly LaFon

210 followers
Fund Management added to its position in Encana Common (ECA) following the company's announcement of a C$2.2 billion joint venture with PetroChina (PBR). In this transaction, Encana sold a 49.9% non-operating stake in its undeveloped Duvernay land holdings in Alberta in exchange for C$1.2 billion in cash up front and C$1 billion in the form of a drilling carry that will result in PetroChina funding 75% of the development costs over the next four years. As a result, Encana ended the year with a very strong financial position that includes more than C$3 billion in cash.

From Third Avenue Management's first quarter commentary.


Rating: 2.0/5 (2 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Hide