Source Pravda.Ru

EnCana Salvages Williams' Wyoming Gas Assets

EnCana Corp., Canada's largest natural-gas producer, bought gas properties in Wyoming from Williams Cos. for $350 million to boost its U.S. output.

The fields hold about 600 billion cubic feet of gas and produce about 135 million cubic feet a day, EnCana said in a statement. The Calgary-based company also will get about 16,000 acres of exploration land in the state's Jonah gas field.

EnCana is buying Williams's stakes in some wells the two companies own in Wyoming's Jonah field, spokesman Scott Ranson said. ``It helps us consolidate our reserves and spread out our production costs,'' he said.

Tulsa, Oklahoma-based Williams, the second-biggest U.S. gas- pipeline company, is shedding assets to raise cash and pay debt. The purchase will increase EnCana's output from the Jonah field by 48 percent to 400 million cubic feet a day.

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&to=http://www.encana.com' target=_blank>EnCana

&to=http://www.williams.com/index.jsp' target=_blank>WILLIAMS