Jupiter Resources Inc. has agreed to acquire Encana's Bighorn assets in the Alberta Deep Basin for CAD$2.0 billion (before closing adjustments).

These properties include approximately 360,000 net acres of land and first quarter production of 319 mmcfe/d (after royalties) of liquids-rich natural gas. The transaction is subject to satisfaction of normal closing conditions, as well as regulatory approvals, and is expected to close by the end of the third quarter of 2014.

Jupiter Resources is a portfolio investment of funds managed by affiliates of Apollo Global Management, LLC.

Tags: EnCana Corporation, Jupiter Resources Inc.