NorthWestern Energy (NYSE: NEW) is buying natural gas interests in Montana’s Bear Paw Basin for an undisclosed amount.
NorthWestern is buying the interests from Devon Energy Production Co., a Canadian energy company. The deal also include Devon’s 82 percent stake in the Havre Pipeline Co. LLC, which operates a pipeline.
The deal is for 916 producing wells, 82 miles of transmission line, 576 miles of gathering lines and 21 compressors in Blaine, Choteau and Hill counties, in Montana. NorthWestern provides electricity and natural gas in the Midwest and northwest, serving customers in Montana, South Dakota and Nebraska.
Butte, Mont.-based NorthWestern needs to obtain regulatory approval for the Havre Pipeline part of the transaction.
The transaction follows many other energy deals, including Teco Energy’s purchase of New Mexico Gas Co. for $950 million, Contango Oil & Gas Co. (NYSE: MCF) and Crimson Exploration Inc.’s (Nasdaq: CXPO) merger and Atlas Pipeline Partners LP’s (NYSE: APL) acquisition of Teak Midstream LLC.
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