Encana Selling Assets Near Rifle For $590 Million

By Denver Business Journal

Encana Oil & Gas (USA) Inc. of Denver will sell its natural gas midstream assets in the Piceance Basin to a Dallas company for $590 million.

The buyer, Summit Midstream Partners LLC, announced the deal Tuesday. The purchase is expected to close in the fourth quarter.

The assets include about 260 miles of pipeline, which are transporting approximately 500 million cubic feet per day of natural gas under contracts with various producers. The assets are near Rifle.

Summit Midstream Partners also said it will build the midstream infrastructure necessary to support Encanaâ¿¿s emerging Niobrara development.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/denver/news/2011/10/11/encana-selling-assets-near-rifle-for.html?ana=thestreet

Copyright bizjournals.com 2010

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