One-Page Deal Sheet
Nucor Picks Up Remaining 49% Stake in Encana Piceance Leasehold
Nucor Corporation Ovintiv Inc
Announced Date
October 04,2016
Effective Date
October 01,2016
Close Date
October 01,2016
Transaction Type
Working Interest
Transaction Details: Subscribe to see
Nucor has purchased 49% of Encana's leasehold interest covering approximately 54,000 acres in the South Piceance Basin.
Further, Nucorand Encana also terminated the two Carry and Earning drilling agreements entered into in 2010 and 2012, and Nucor sold its 50% equity interest in Hunter Ridge Energy Services LLC to Encana. Hunter Ridge is a gas gathering and water service provider formed by Nucor and Encana in 2012 to support the joint well development in the North Piceance Basin.
Under the new structure, Nucor has acquired 49% of Encana's leasehold interest in certain mineral leases to all…
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