One-Page Deal Sheet
Encana to Sell Montney Midstream Assets to Veresen Midstream
Kohlberg Kravis Roberts & Co. (KKR), Veresen Inc. Ovintiv Inc
Announced Date
December 23,2014
Close Date
April 01,2015
Transaction Type
Asset
Transaction Details: Require Private Equity Subscription
Closing Announcement - April 1, 2015
Veresen Inc. has announced that Veresen Midstream Limited Partnership has closed the acquisition of certain natural gas gathering and compression assets supporting Montney development in the Dawson area of northeastern British Columbia from Encana Corporation and the Cutbank Ridge Partnership.
As part of this transaction, Veresen Midstream has agreed to undertake up to $5 billion of new midstream expansion for Encana and CRP in the Montney region. Veresen Midstream is a newly created entity, owned equally by Veresen and affiliates of Kohlberg Kravis…