Canadian energy company Encana becomes major Permian shale player with acquisition of Texas rival. UPI/Gary C. Caskey CALGARY, Alberta, Sept. 29 (UPI) — Canadian energy company Encana Corp. said Monday it acquired Texas rival Athlon Energy to become one of the largest oil players in the Permian shale basin. “This transformative acquisition further accelerates our strategy and provides us with a prime position in what is widely acknowledged as one of North America’s top oil plays,” Encana President and Chief Executive Officer Doug Suttles said in a statement. Ecanana paid cash for the acquisition, giving the Canadian company control over 140,000 net acres in the Permian shale basin in Texas. Permian production increased 58 percent from 2007 to reach 1.35 million bpd last year, which represents 18 percent of total U.S. crude oil production. In a July brief, the U.S. Energy Information Administration said the Permian basin has exceeded […]