Encanca selling U.S.-based LNG unit to Texas firm Stabilis Energy
by The Canadian Press
Denver-based Encana Natural Gas Inc. distributes LNG fuel to operators of high horsepower engines
CALGARY—Encana Corp. will sell substantially all the assets of a Denver-based liquefied natural gas (LNG) unit to Texas-based Stabilis Energy under an agreement announced this week.
Financial terms of the deal weren’t disclosed.
Calgary-headquartered Encana has been reducing its portfolio and recently agreed to sell natural gas properties in Wyoming to a private equity firm.
Denver-based Encana Natural Gas Inc. distributes LNG fuel to operators of high horsepower engines used in the oilfield, mining, rail, marine, over-the-road transportation and industrial sectors.
Stabilis will add the company’s staff and buy its fleet of trailers, mobile fuelling units and other equipment.
The transaction is scheduled to close on April 30.
