CPPIB commits up to $1 bln to buy U.S. oil, gas assets: Reuters
Canada Pension Plan Investment Board (CPPIB), the country's biggest public pension fund, plans to invest up to US$1 billion to buy oil and gas assets in the United States in a partnership with Encino Energy Ltd, Reuters reported. CPPIB said the partnership, Encino Acquisition Partners, would seek non-core assets being sold by global energy majors and would focus on basins already producing oil and gas. It is looking to buy assets being sold by large energy companies as they spend money on developing red-hot U.S. shale basins like the Permian and the so-called SCOOP and STACK plays in Oklahoma. CPPIB already holds close to $4.5 billion of assets in the energy sector, 80 percent of which are in Western Canada.
28 June 2017•2 mins read
