AltaGas Ltd. agreed Thursday to buy some natural gas storage assets and midstream properties in Alberta’s Montney Shale from Tidewater Midstream and Infrastructure Ltd. in a cash-and-stock deal valued at $447 million.

The package includes the northern Pipestone natural gas processing, storage and pipeline network, as well as the Dimsdale gas storage facility.

“We are excited that the Pipestone transaction will strengthen our midstream value chain,” CEO Vern Yu said. “The assets will deliver highly contracted, take-or-pay and fee-for-service revenue.”

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