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NorthWestern Energy Buys $70 Million Gas Assets

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December 3, 2013

NorthWestern Corp. (NYSE: NWE) completed a $70.2 million purchase Dec. 2 of Devon Energy Production Co. LP’s interests in northern Montana's Bear Paw Basin that triples NorthWestern’s gas production in the region.

NorthWestern, doing business as NorthWestern Energy, purchased Devon's operating and non-operating interests in about 900 wells that will produce 5.6 billion cubic feet (Bcf) in 2013. The facilities have 63 Bcf of net gas reserve and exist in the Bear Paw fields near NorthWestern's other natural gas production assets.

The purchase includes Devon's 82% interest in the Havre ...


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