Denver-based MarkWest Hydrocarbon Inc. said it is selling its MarkWest Resources Canada Corp. subsidiary for C$102.5 million, excluding debt and other liabilities, to Advantage Energy Income Fund. The sale price may be increased by C$2.5 million if certain lands are retained through additional drilling prior to Dec. 31. The sale is part of the company’s strategy to focus on its master limited partnership, MarkWest Energy Partners LP. MarkWest Hydrocarbon Inc. recently reported a third quarter net loss of $7 million, or minus 74 cents/share, compared to a net loss of $3.2 million, or minus 34 cents per share for the third quarter of 2002. For the nine months ended Sept. 30 it reported net income of $2 million, or 21 cents/share, compared to a net loss of $5.1 million, or 54 cents/share. MarkWest said it would use the net proceeds from the sale to retire debt outstanding under its existing bank revolving credit facility and for general corporate purposes. It continues to evaluate options for its wholly owned subsidiary, MarkWest Canadian Midstream Services Inc., which holds natural gas exploration assets located in the Bigstone-Berland River area of west-central Alberta.

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