PanCanadian Energy Corp. and Alberta Energy Co. reported that their merger has received a green light from the Competition Bureau of Canada. The receipt of a “no action” letter satisfies one of the key approvals required to complete the proposed merger to form EnCana Corp. “Momentum continues to build towards the shareholder meetings on April 4,” said AEC President Gwyn Morgan. The proposed merger is still subject to approvals by shareholders, the Court of Queen’s Bench of Alberta and the expiry of the waiting period under the Hart Scott Rodino Act in the United States.

Magnum Hunter Resources and Prize Energy Corp. said shareholders of both companies overwhelmingly approved their merger. The final closing of the merger is on schedule for today. The merger would create a company with a combined enterprise value of $1.2 billion. The companies, both headquartered in the Dallas area, have total proved reserves of 1 Tcfe and combined daily production of about 232 MMcfe. The company, which would have a reserve mix of 55% natural gas and 45% oil, would keep the Magnum Hunter name. Under terms of the merger, Prize shareholders would own 49% of the combined company and Magnum Hunter shareholders would own 51%.

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