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Encana chairman interim president and CEO Clayton Woitas addresses shareholders during the company's annual general meeting in Calgary, Alberta, April 23, 2013.
Encana chairman interim president and CEO Clayton Woitas addresses shareholders during the company's annual general meeting in Calgary, Alberta, April 23, 2013.
(Todd Korol/Reuters)

Whitecap’s new acquisition has key backers, hot assets

Whitecap Resources struck yet another deal, its fifth in 2013. But with this one, there’s a little more than meets the eye.

Publicly, Whitecap disclosed that it is buying an unnamed private company for $327-million in shares, adding that the target is already in production so its assets are much safer than development plays.