CALGARY, ALBERTA--(Marketwire - Jan. 7, 2013) - ATCO Energy Solutions announced today the sale of its Watelet Gas Plant, located southwest of Leduc, to Direct Energy Services, effective December 1, 2012.
The Watelet Gas Plant, located in central Alberta, and the associated gathering system, has been operated by ATCO Energy Solutions since acquiring it in 1998 with Direct Energy production flowing through the plant since 2009.
"The decision to sell the Watelet Gas Plant will allow ATCO Energy Solutions to focus on better serving Western Canada's energy sector by optimizing the utilization at our existing facilities," said Managing Director & President, Arnold MacBurnie. "It also allows us to concentrate our efforts on growth opportunities in the marketplace."
Direct Energy has an active oil exploration and production program in the vicinity, so the Watelet facility is ideally situated to support their initiatives in addition to providing custom processing services to other producers in the Watelet, Thorsby, Leduc-Woodbend and Wizard Lake fields of central Alberta.
ATCO Energy Solutions builds, owns and operates non-regulated energy and water-related infrastructure. The company focuses on offering natural gas gathering, processing and storage; natural gas liquids extraction, transportation and services; electric transmission and substations; and industrial water infrastructure solutions to the energy industry. The company owns or has interests in seven natural gas gathering and processing facilities and four natural gas extraction facilities, which combined, have a total processing capacity of more than 1.8 billion cubic feet per day.
ATCO Ltd., with more than 8,800 employees and assets of approximately $14 billion, delivers service excellence and innovative business solutions worldwide with leading companies engaged in structures & logistics (manufacturing, logistics and noise abatement), utilities (pipelines, natural gas and electricity transmission and distribution), energy (power generation, natural gas gathering, processing, storage and liquids extraction) and technologies (business systems solutions). More information can be found at www.atco.com.
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