Geosouthern Buys Encana Guide

: Approximately 112,000 net acres and 300 operated wells primarily located in DeSoto and Red River Parishes, Louisiana.

: 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

For , the acquisition marked a high-profile return to the shale market. Led by billionaire George Bishop, the company was flush with capital after selling its Eagle Ford assets to Devon Energy for $6 billion in 2014. The Haynesville deal allowed them to apply their horizontal drilling expertise to a prolific natural gas play with a clean balance sheet and zero debt. : Approximately 112,000 net acres and 300 operated

: $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. For , the acquisition marked a high-profile return

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