NorthWestern Energy to buy gas assets in Montana

NorthWestern Energy Corp. agreed to buy natural gas production interests in northern Montana’s Bear Paw basin from Devon Energy Production Co. LP.

The transaction includes Devon’s 82% interest in Havre Pipeline Co. LLC although NorthWestern Energy has yet to obtain a regulatory waiver to acquire Havre Pipeline.

Closing is expected this year, subject to customary approvals. Value of the deal was not disclosed.

NorthWestern proposes to acquire an interest in 916 producing wells and connected gathering systems with more than 82 miles of transmission line, 576 miles of gathering lines, and 21 compressors in Blaine, Choteau, and Hill counties.

Net proven developed producing reserves is estimated at 64.6 bcf. Total 2013 gas production is forecast to be 5.6 bcf, or about 28% of NorthWestern’s current annual gas load in Montana.

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