Encana Corp. has completed the sale to Veresen Inc. of natural gas processing assets in the Cutbank Ridge area, which straddles Alberta (AB) and British Columbia (BC), for close to C$920 million (see Daily GPI, Dec. 8, 2011). The sale includes 100% interest in the Steeprock plant in northeast BC and the Hythe plant in northwest AB, which combined provide about 516 MMcf/d of gas processing capacity, as well as compression and 370 kilometers of associated gathering pipelines. As part of the sale, Encana entered into a long-term gathering and processing fee agreement with Veresen on terms that provide cost stability for ongoing development in Cutbank Ridge and help in delivering the gas to market.

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