Drat! Just as I start getting to know the Encore Acquisition
Encore, as the name implies, was a follow-up to the past successes of industry veteran Jon Brumley. Brumley discovered the merits of the "acquire and exploit" model at Southland Royalty, where he rose from administrative assistant to CEO. After selling that company to Burlington Northern Santa Fe
After guiding Boone Pickens' Mesa Petroleum through a merger that created percolating Pioneer Natural Resources
The timing of the strategic alternatives search is a bit curious here, given that Encore just unveiled its Tuscaloosa play to the world. Then again, the company has always preferred to deal with proven assets rather than break open new frontiers. The higher-risk activity may simply be more suitable for a different party. Encore has shown its hand -- let's see who comes to the table.