Canada's Encana to buy Newfield Exploration in £3.2 billion deal
Reuters
Published Nov 01, 2018 10:18
Canada's Encana to buy Newfield Exploration in £3.2 billion deal
(Reuters) - Canadian oil and gas producer Encana Corp (TO:ECA) (N:ECA) said on Thursday it will buy Newfield Exploration Company (N:NFX) in an all-stock deal valued at about C$5.5 billion (3.26 billion pounds).
Encana said it intends to raise dividend by 25 percent and expand its share buyback program to C$1.5 billion.
Separately, the Calgary, Alberta-based company said total production rose 33 percent to 378,200 barrels of oil equivalent per day (BOE/d) in the third-quarter ended Sept. 30.
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Written By: Reuters
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