Company News: EnCana to sell Express, Cold Lake pipelines to two buyers

Two buyers have signed separate agreements to purchase EnCana Corp.'s interests in the Express and Cold Lake pipeline systems for $1.6 billion (Can.).EnCana's board late last month approved the two transactions, part of EnCana's bid to refocus its operations on oil and gas exploration and production and selected midstream opportunities. That bid entails disposition of noncore assets that EnCana reckons will raise more than $2.1 billion this year.EnCana was formed in April from the $27 billion merger of Calgary firms Alberta Energy Co. Ltd. and PanCanadian Energy Corp. The merger was announced in January (OGJ Online, Jan. 28, 2002).In other recently reported company news:Centri...

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