One-Page Deal Sheet
Encana Closes Sale Of Cutbank Midstream Asset
Veresen Inc. Ovintiv Inc
Announced Date
December 07,2011
Close Date
February 09,2012
Transaction Type
Asset
Transaction Details: Subscribe to see
Encana Corporation (TSX & NYSE: ECA) has closed the sale of its natural gas processing assets in the Cutbank Ridge area for an aggregate purchase price of approximately C$920 million, subject to customary adjustments. On December, 7, 2011, Encana announced its agreement to sell the midstream assets to Veresen Inc. (TSX: VSN). The sale includes Encana's 100 percent interest in the Steeprock plant in northeast British Columbia and the Hythe plant in northwest Alberta, which combined provide about 516 million cubic feet per day of natural gas processing capacity, as well as compression and 370…
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