TORONTO – Canada Pension Plan Investment Board says it and Encino Energy are selling their holdings in an Ohio oil and gas producer for US$5.6 billion including debt.
CPP Investments says EOG Resources is the buyer of Encino Acquisition Partners, which CPP Investments and Encino Energy established in 2017 with the aim of building it into a leading buyer of U.S. oil and gas assets.
CPP Investments held a 98 per cent stake in Encino Acquisition Partners alongside Encino Energy.
Bill Rogers, head of sustainable energies at CPP Investments, says in a statement that the fund is pleased with the success of the company and the returns the investment has delivered.
CPP Investments recently dropped its commitment to reach net-zero emissions by 2050, saying alignment with rigid dates could lead to investment decisions that are misaligned with its investment strategy.
The board’s energy group had net assets totalling $36.3 billion as of the end of March, spanning renewables, conventional energy and emerging technologies, while CPP Investments as a whole manages more than $700 billion on behalf of the Canada Pension Plan Fund.
This report by The Canadian Press was first published May 30, 2025.