Encana Finalizes $919M Canadian Midstream Asset Sale

Law360, New York (February 10, 2012, 6:32 PM EST) -- Canada’s Encana Corp. closed the sale of two natural gas processing assets to Veresen Inc. for CA$920 million (US$919 million) as part of the energy company's overall $3.5 billion asset divestment strategy, Encana announced Thursday.

The sale includes Encana's 100 percent stake in its Steeprock plant in northeast British Columbia and its Hythe plant in northwest Alberta, along with compression and associated gathering pipelines, the company said.

Combined, the two plants that service the Cutbank Ridge region of Canada provide about 516 million cubic feet per...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.