Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Encore Acquisition Co. > News item |
S&P affirms Encore
Standard & Poor's said it affirmed its BB- corporate credit rating on Encore Acquisition Co.
The outlook is negative.
The agency said that the affirmation follows Encore's announcement of its $410 million cash acquisition of oil- and gas-producing properties in the Williston Basin of Montana and North Dakota from Anadarko Petroleum Corp.
Combined with the Big Horn acquisition from Anadarko a week earlier, the transactions add about 41 million barrels of oil equivalent of proved developed reserves to Encore at a price of $810 million and S&P said it views the acquisitions as solidly fitting Encore's operating strengths and regional focus.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.