Geosouthern Buys Encana Instant

: At the time of the sale, the properties produced an average of 217 million cubic feet per day (mmcf/d) and held estimated proved reserves of 720 billion cubic feet .

: The buyer was GEP Haynesville LLC , a joint venture between GeoSouthern Haynesville, LP and funds managed by GSO Capital Partners LP , the credit arm of Blackstone . Strategy: Why the Trade? geosouthern buys encana

: $850 million in cash plus the transfer of approximately $480 million in midstream and gathering commitments, effectively totaling a $1.3 billion value proposition for Encana. : At the time of the sale, the

: Approximately 112,000 net acres and 300 operated wells primarily located in DeSoto and Red River Parishes, Louisiana. : $850 million in cash plus the transfer

In 2015, (through a joint venture with GSO Capital Partners) acquired Encana Corporation's Haynesville Shale assets for $850 million in cash. This "Deep South" deal was a landmark move for both companies, representing a major portfolio shift for Encana (now Ovintiv) and a return to the shale spotlight for GeoSouthern. The Deal at a Glance

For , this was a surgical exit to reduce debt and focus on four high-margin "core" areas: the Permian Basin, Eagle Ford, Duvernay, and Montney. By divesting these natural gas-heavy Louisiana assets, Encana sharpened its focus on oil-rich liquids plays.