Encana looks to divest Cabin Gas Plant under construction in BC

Source: Encana Corp.

Encana Corporation (TSX:ECA) (NYSE: ECA) recently issued a request for proposal to companies interested in buying and completing the construction of the Cabin Gas Plant, which has regulatory approval for two phases of development for total processing capacity of 800 MMcf/d. 

Encana, as operator, is building the Cabin plant to serve producers in the Horn River natural gas play in northeast British Columbia. The Cabin plant is in the early stage of constructing the first phase, which is designed to have capacity of about 400 MMcf/d and is scheduled to start processing natural gas from Horn River in 2012. 

Midstream asset divestitures in Canada and the U.S. 

“We have a variety of midstream assets serving our key resource plays in Canada and the United States and we plan to pursue opportunities that help us enhance value and efficiently deliver our growing natural gas production to market at a low-cost over the long term,” said Renee Zemljak, Encana’s Executive Vice-President Midstream, Marketing & Fundamentals. 

The company just divested its Fort Lupton gas plant to Western Gas Partners for $303 million.

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