Nucor Inks $3.6B Deal To Lock Down Encana Gas Output

Law360, New York (November 6, 2012, 5:17 PM EST) -- Steel manufacturer Nucor Corp. has agreed to support some onshore drilling of a U.S. affiliate of Encana Corp., to the tune of $3.64 billion over a 13-to-22 year term, in exchange for a low-cost, reliable stream of natural gas, according to a Tuesday regulatory filing.

Per the gas supply deal, Nucor will pay a certain share of costs, plus some interest, for each well drilled by Encana Oil & Gas (USA) Inc. through the agreement. In return, Nucor will snag a 50 percent working interest in...
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