By OGJ editors
HOUSTON, Feb. 19 -- Progress Energy Resources Corp. plans to buy certain natural gas properties in British Columbia from Suncor Energy Inc. for $390 million (Can.).
The sale includes Suncor’s interests in Jedney, Beg, and Blueberry fields. The production is 43.8 MMcfd of gas equivalent. Suncor reports 91% of the production is gas.
Subject to regulatory approvals, closing is expected by Mar. 31.
Suncor’s is divesting certain assets so it can focus on oil sands development in Western Canada. Including the Progress Energy Resources transaction, Suncor said it has reached agreements to divest of assets worth a total of $907 million.