Killajoules

Encana agrees to sell two Cutbank Ridge natural gas processing plants for C$920 million
Encana Corporation (TSX & NYSE: ECA) has reached an agreement to sell two natural gas processing plants servicing the Cutbank Ridge area to Veresen Inc. (TSX: VSN) for approximately C$920 million. The sale includes Encana's 100 percent interest in its Steeprock plant in northeast British Columbia and its Hythe plant in northwest Alberta, along with compression and associated gathering pipelines.

Encana agrees to sell North Texas natural gas assets for US$975 million
Encana Oil & Gas (USA) Inc., a subsidiary of Encana Corporation (TSX & NYSE: ECA), has reached an agreement to sell its North Texas natural gas producing properties to certain partnerships managed by EnerVest, Ltd. of Houston, Texas for approximately US$975 million.

Encana advances NGLs extraction plans with agreement to capture 12,000 barrels per day from Alberta Deep Basin production
Encana Corporation (TSX, NYSE: ECA) has reached an agreement that will see Pembina Pipeline Corporation invest about C$230 million to expand the processing and liquids extraction capacity of the Resthaven natural gas processing plant in west central Alberta. This plant capacity increase, the first of a two-phase expansion, is scheduled to come on stream in late 2013. With this initial expansion, Encana expects to boost its extraction of natural gas liquids (NGLs) at Resthaven from about 1,000 barrels per day to about 8,000 barrels per day. The second expansion is expected to provide Encana with another 4,000 barrels per day of extracted NGLs from its growing liquids-rich natural gas production in the region.

Encana agrees to sell interest in Horn River Basin’s Cabin Gas Plant for approximately C$220 million
Encana Corporation (TSX, NYSE: ECA) has reached an agreement to sell its interest in the Cabin Gas Plant in the Horn River Basin of northeast British Columbia to Enbridge Inc. for approximately C$220 million at closing, which is expected in December 2011. The agreement covers Encana’s interest of approximately 52 percent in the first two phases of the natural gas processing plant, which has regulatory approval for total processing capacity of 800 million cubic feet per day (MMcf/d).

Encana agrees to sell Piceance natural gas midstream assets in Colorado for US$590 million
Encana Oil & Gas (USA) Inc. (Encana USA), a subsidiary of Encana Corporation (Encana) (TSX, NYSE: ECA), has agreed to sell a portion of its Piceance natural gas midstream assets in Colorado to a private midstream company for approximately US$590 million.

Encana and PetroChina end Cutbank Ridge joint venture negotiations
Encana Corporation (TSX, NYSE: ECA) and PetroChina International Investment Company, a subsidiary of PetroChina Company Limited, have ended negotiations for a proposed joint venture concerning Encana’s Cutbank Ridge business assets after the parties were unable to achieve substantial alignment with respect to key elements of the proposed transaction, including the joint operating agreement.

Encana to establish joint venture with PetroChina through sale of 50 percent interest in Cutbank Ridge business assets for C$5.4
Encana Corporation (TSX, NYSE: ECA) has signed a Co-operation Agreement with PetroChina International Investment Company Limited, a subsidiary of PetroChina Company Limited (SEHK: 0857, SSE: 601857, NYSE: PTR), that would see PetroChina pay C$5.4 billion to acquire a 50 percent interest in Encana’s Cutbank Ridge business assets in British Columbia and Alberta. Under the Co-operation Agreement, the two companies would establish a 50/50 joint venture that would ambitiously grow natural gas production from the Cutbank Ridge lands for years ahead.