November 24, 2014 7:30 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Athlon Energy Inc.

Company Overview

Athlon Energy Inc., an independent exploration and production company, focuses on the acquisition, development, and exploitation of unconventional oil and liquids-rich natural gas reserves in the Permian Basin. The company holds approximately 23,500 net acres in Martin, Upton, Andrews, and Glasscock counties. As of December 31, 2013, it had 127 million barrels of oil equivalent of proved reserves; and proved undeveloped reserves comprising 659 gross potential vertical drilling locations. The company was founded in 2010 and is headquartered in Fort Worth, Texas. As of November 12, 2014, Athlon Energy Inc. operates as a subsidiary of Encana Corporation.

420 Throckmorton Street

Suite 1200

Fort Worth, TX 76102

United States

Founded in 2010

70 Employees

Phone:

817-984-8200

Fax:

817-984-8217

Key Executives for Athlon Energy Inc.

Chairman
Age: 44
Founder and Senior Vice President of Business Development & Land
Age: 49
Chief Financial Officer and Vice President
Age: 37
Senior Vice President of Operations
Age: 47
Principal Accounting Officer
Age: 43
Compensation as of Fiscal Year 2014.

Athlon Energy Inc. Key Developments

Athlon Energy Inc.(NYSE:ATHL) dropped from Russell 1000 Index

Athlon Energy Inc. will be removed from the Russell 1000 Index.

The Shareholders Foundation, Inc. Files Lawsuit against Athlon Energy Inc

The Shareholders Foundation Inc. announced that an investor, who currently holds shares of Athlon Energy Inc. (ATHL), filed a lawsuit in effort to stop the proposed takeover of Athlon Energy Inc. by Encana Corporation for USD 58.50 per ATHL share. On September 29, 2014, Encana Corporation and Athlon Energy Inc. announced that the two companies have entered into a merger agreement for Encana Corporation to acquire all of the issued and outstanding shares of common stock of Texas-based Athlon Energy Inc. by means of an all-cash tender offer for USD 5.93 billion or USD 58.50 per share, as well as Encana Corporation assuming Athlon's USD 1.15 billion of senior notes, for a total transaction value of approximately USD 7.1 billion. However, the plaintiff claims that the USD 58.80-offer is too low and undervalues Athlon Energy Inc. The plaintiff says that the offered price is well below the target price set by at least eight analysts, including a price of USD 66.00 set by an analyst at Global Hunter Securities on July 22, 2014, a price of USD 65.00 set by an analyst at Stephens Inc. on August 15, 2014, and another analyst's estimate of USD 64.00 per share. In addition, the plaintiff claims that the acquisition process is also unfair to ATHL stockholders. The plaintiff says that the proposed merger agreement contains certain preclusive deal protection devices, such as a no solicitation, a matching rights, and a hefty termination fee provision, that are designed to ensure the sale of Athlon Energy on terms preferential to Encana Corporation and preclude other bidders from making a higher offer.

Encana Corporation, Athlon Energy Inc. - M&A Call

To discuss definitive merger agreement between Encana Corporation and Athlon Energy Inc. to establish a premier oil position in the permian

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 29, 2014
--
Merger/Acquisition
September 4, 2014
Certain Producing Properties and Undeveloped Acreage
Merger/Acquisition
April 11, 2014
Athlon Energy Inc., Assets In Martin and Palo Pinto Counties
 

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