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Dec 22 (Reuters) - Canada's Encana Corp will sell some natural gas gathering and compression facilities in British Columbia it owns jointly with a unit of Mitsubishi Corp to Veresen Midstream LP. Encana said it would receive about C$412 million ($354 million) from the sale and actual costs accrued in 2015. The facilities include a 500-kilometer pipeline and compression facilities of 675 million cubic feet per day. Veresen Midstream will provide gathering and compression services to Encana and Cutbank Ridge Partnership, its partnership with a Mitsubishi unit, for a fee. Veresen Midstream, a joint venture of Veresen Inc and KKR & Co LP, will also invest up to C$5 billion to support development in the Montney shale. Encana and Cutbank Ridge Partnership plan to invest $600 million-$700 million in the Montney shale in 2015, the Canadian company said. The transaction is expected to close in the first quarter of 2015. ($1 = C$1.16) (Reporting by Narottam Medhora in Bengaluru; Editing by Kirti Pandey)
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Encana Corporation
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EXPLORATION STAGE |
CODE : ECA.TO |
ISIN : CA2925051047 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Encana is a oil and natural gas producing company based in Canada. Encana holds various exploration projects in Canada. Its main exploration property is BUFFALO HILLS in Canada. Encana is listed in Canada and in Germany. Its market capitalisation is CA$ 4.8 billions as of today (US$ 3.7 billions, € 3.3 billions). Its stock quote reached its highest recent level on November 23, 2018 at CA$ 9.99, and its lowest recent point on January 24, 2020 at CA$ 4.96. Encana has 973 120 000 shares outstanding. |