CPPIB: CPPIB, Texas partner to purchase oil and gas assets

CPPIB: CPPIB, Texas partner to purchase oil and gas assets

Postby Oscar » Mon Jul 30, 2018 11:50 am

CPPIB, Texas partner to purchase oil and gas assets in Ohio for $2.6-billion

[ https://www.theglobeandmail.com/busines ... hio-for-2/ ]

The Canadian Press Published July 27, 2018

A partnership which includes the Canada Pension Plan Investment Board has signed an agreement to acquire oil and gas assets in Ohio for about $2.6-billion in cash.

Encino Acquisition Partners (EAP) — comprised of the CPPIB and Houston-based Encino Energy — is purchasing more than 364,000 hectares of land on which about 900 wells produce more than 600 million cubic feet of gas equivalent per day.

EAP says it plans to operate multiple drilling rigs on the properties to boost production and cash flow.

- - - - - -

The CPPIB invests money not needed by the Canada Pension Plan to pay current benefits and had $356.1-billion in assets as of March 31, 2018.
Oscar
Site Admin
 
Posts: 8083
Joined: Wed May 03, 2006 3:23 pm

Return to MONEY MATTERS

Who is online

Users browsing this forum: No registered users and 1 guest

cron