
We suppose we shouldn't be shocked, but we are. Reuters is exclusively reporting that Canadian pension fund CPP Investments, the majority owner of Encino Acquisition Partners (aka Encino Energy), is considering either a sale of the company or possibly an initial public offering (IPO) that values the company at roughly $7 billion. Encino's claim to fame is that after taking over Chesapeake Energy's Ohio Utica assets in 2018, it cracked the code on how to coax crude oil (condensate) out of the low-pressure Utica shale (see
Oil Prod. in Northern Utica Comes Alive – Encino Cracks Oil Code). The company quickly became the #1 producer of crude oil in the Utica (see
Encino’s “Four Pillars” Transformed Co. into M-U’s Top Oil Producer).
To view this content, log into your member account. (Not a member? Join Today!)