QGEP Seeks Stronger Brazil Presence, Guardado Says

Encana Corp. may sell more of natural gas assets as it attempts to further transition its portfolio into oil and liquids plays. Following recent deals to dispose of its natural gas assets in Wyoming’s Jonah field for $1.8-billion and some in Texas gas for $530-million, the company unveiled a $3.1-billion acquisition of Freeport-McMoran’s Eagle Ford properties. Not only does this provide Encana with a cash flow margin boost, it also serves as a bridge to the company’s longer cycle assets, according to Greg Pardy, an analyst at RBC Capital Markets.

Global oil majors from Exxon Mobil Corp. to Chevron Corp. are about to get the clearest indication yet of how far Mexican lawmakers will go to lure them into the largest unexplored crude area after the Arctic Circle.

It takes a lot of nerve to increase exposure to long-suffering Canadian gas. But Canadian Natural Resources Ltd. did just that Wednesday by purchasing the Canadian conventional business of U.S independent Devon Energy Corp. for $3.13-billion in cash, breaking a long streak of foreign oil and gas purchases and signaling the Canadian energy story is making a comeback. Canadian Natural beat out a crowded field of interested buyers in the largest acquisition by a Canadian energy company since Suncor Energy Inc. bought Petro Canada for $22.9-billion in 2009.