The Steeprock plant is located about 50km south of Dawson Creek and about 10km west of the Hythe plant, located in Alberta.
The Cutbank Ridge midstream assets include about 516 million cubic feet per day (MMcf/d) of natural gas processing capacity from the Hythe and Steeprock natural gas processing plants and approximately 370km of pipelines.
This midstream asset sale is expected to close in the first quarter of 2012, subject to regulatory approvals and normal closing conditions.
Encana’s president & CEO Randy Eresman, said this sale agreement marks the conclusion of the major components in our 2011 divestiture program, which upon closing of all transactions, will result in proceeds of about $3.5bn.
