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Friday, June 27, 2014

Encana to sell Bighorn gas assets for C$2 billion, (NYSE: APO)

Encana Corp, Canada's largest natural gas producer, said it would sell its Bighorn gas properties in Alberta to Apollo Global Management LLC for about C$2 billion ($1.9 billion). The deal includes about 360,000 net acres comprising Encana's working interests in all pipelines and facilities as well as service arrangements. ($1 = 1.0688 Canadian Dollars) (Reporting By Narottam Medhora in Bangalore; Editing by Saumyadeb Chakrabarty)

Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO remained unchanged at $26.95. In the past year, the shares have traded as low as $22.61 and as high as $36.51. On average, 1434860 shares of APO exchange hands on a given day and today's volume is recorded at 538041.