NorthWestern Energy (NYSE: NWE), which provides electricity and natural gas in the Upper Midwest and Northwest, serving approximately 673,200 customers in Montana, South Dakota and Nebraska, has completed a $70.2 million purchase of natural gas production interests in northern Montana's Bear Paw Basin from Devon Energy Production Company, L.P. (Devon). This purchase also includes Devon's 82 percent interest in the Havre Pipeline Company, LLC.
Devon's interest also includes an 82 percent ownership in a limited liability company that owns and operates the Havre Pipeline with 82 miles of transmission lines, 576 miles of gas gathering lines, and 21 compressors in Blaine, Chouteau and Hill Counties.
The transaction would represent about 28 percent of NorthWestern's supply portfolio. With the Battle Creek, current Bear Paw assets and the Devon transaction, NorthWestern production would supply 37 percent of the core customer needs.
The sale is subject to customary post-closing adjustments.