Encana acquires Newfield in all-stock transaction resulting in North America’s No. 2 unconventional producer
Encana (ticker: ECA) announced the third major acquisition in the past four days today, acquiring Newfield Exploration (ticker: NFX).

Newfield is a primarily SCOOP/STACK company, producing 143.7 MBOEPD from the basin. While the company also has operations in the Williston, Uinta and Arkoma basins, and produces a combined 54.9 MBOEPD from these plays, the SCOOP/STACK is by far Newfield’s highest priority asset.

Newfield owns roughly 360,000 net acres in the SCOOP/STACK, with 6,000 gross available drilling locations. The company is currently running 11 rigs in the play, and it has placed 39 wells on production over Q3. Encana be...

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