The CPPIB and Texas Partner to Acquire Oil and Gas Assets in Ohio

HOUSTON – A partnership that includes the Canada Pension Plan Investment Board signed an agreement for the acquisition of oil and gas badets in the United States. Ohio for about C $ 2.6 billion.

Encino Acquisition Partners (EAP) Houston-based Encino Energy buys more than 364,000 hectares of land, of which approximately 900 produce more than 600 million cubic feet of gas-equivalent per day.

EAP intends to operate multiple rigs

The transaction is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2018.

"With a multi-year inventory of Development projects owned by 920 producing wells, the acquisition of Utica Hardy Murchison, CEO of Encino, said the EAP was an excellent start.

"With a solid balance sheet and a partner of the size of the Board, the EAP is well positioned to continue its growth through drilling and acquisitions. "

The Board invests money with Canada Pension Plan does not need to pay current benefits and had badets of $ 356.1 billion as at March 31, 2018.