Getting your player ready...
Encana said Wednesday that a subsidiary plans to sell part of its natural-gas pipeline business for $590 million. Encana, based in Calgary, Alberta, didn’t say who was buying the pipelines.
The sale includes 260 miles of pipeline and compression facilities that serve fields near Rifle, about 180 miles west of Denver. The pipeline gathers and transports about 500 million cubic feet of natural gas per day.
The Colorado pipeline sale must be approved by regulators. The sale is expected to close in the fourth quarter of 2011.
Encana said it plans to sell up to $1.4 billion in additional assets by the end of the year. Part of the sale will include some Canadian assets, the company said.
