EnCana Closes on Transaction to Split into
Two Distinct, Independent Companies

November 30th, 2009
Print
x

Send to a Friend:










Email Larger Smaller

Compiled by Staff

CALGARY - EnCana Corporation (TSX, NYSE: ECA) announced it has completed its transaction to split into two highly focused energy companies: Cenovus Energy Inc., an integrated oil company and EnCana Corporation, a pure play natural gas company. On November 25, 2009 shareholders voted more than 99 percent in favour of the transaction and later that day the Court of Queen’s Bench of Alberta approved the transaction.

The newly independent EnCana Corporation has significant natural gas assets in several key basins, including the Piceance in western Colorado, and others that stretch from northeast British Columbia to east Texas and Louisiana.

Under the terms of the arrangement, common shareholders of EnCana will own one new EnCana common share (which will continue to be represented by existing EnCana common share certificates) and will receive one common share of Cenovus for each EnCana common share held on December 7, 2009, the anticipated distribution record date.

The last day of “when issued” trading on the Toronto Stock Exchange (TSX) will be December 2, 2009 and December 8, 2009 on the New York Stock Exchange. Cenovus and post-split EnCana shares will begin regular trading on the Toronto Stock Exchange on December 3, 2009 and on the New York Stock Exchange on December 9, 2009 under the symbols
CVE and ECA, respectively.

Filed Under: ARCHIVES • Corporate News • EncanaLog

Tags: • •

Get Colorado Energy News and alerts as they happen:
Enter Email:

Post a Response