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Veresen Announces $920 Million Investment in the Montney with Strategic Acquisition of Canadian Midstream Assets and Acquisition
Veresen Inc. ("Veresen") (TSX: VSN) is pleased to announce today that, through a wholly-owned subsidiary, it has entered into agreements with Encana Corporation ("Encana") (TSX, NYSE: ECA) to acquire the Hythe/Steeprock midstream gas gathering and processing complex for $920 million. These assets are located in the Cutbank Ridge region of Alberta and British Columbia. Natural gas and natural gas liquids in the region are produced from the prolific Montney, Cadomin and other geological formations.

date.png19 Dec 2011 07:08 | comments.png 0 Comments | tags.png canada deals encana gas midstream montney pipeline shale veresen [ More ]

Progress Energy Announces Strategic Partnership with PETRONAS to Develop Montney Shale Assets
Progress Energy Resources Corp. (“Progress” or the “Company”) (TSX: PRQ) announced today it has executed a binding framework agreement to create a strategic partnership with the Malaysian national oil company, PETRONAS, to develop a portion of Progress’ Montney shale assets in the Foothills of northeast British Columbia (the “Transaction”). Progress will sell 50 percent of its working interest in its Altares, Lily and Kahta properties (the “North Montney Joint Venture”) to PETRONAS for CDN$1.07 billion. The agreement also reflects the desire by both parties to explore additional opportunities to develop liquefied natural gas (LNG) export capacity in British Columbia.

date.png03 Jun 2011 05:34 | comments.png 0 Comments | tags.png canada montney petronas progress shale [ More ]
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