Oregon Utility Commission Approves NW Natural and Encana Oil & Gas Inc.'s $250M Natural Gas Transaction

Northwest Natural Gas Company NWN, dba NW Natural, and Encana Oil & Gas (USA) Inc., a subsidiary of Calgary-based Encana Corp. ECA, today announced that the Public Utility Commission of Oregon issued an order approving NW Natural's investment in a joint venture to develop gas reserves on behalf of its Oregon customers, effective May 1, 2011. Under terms of the joint venture agreement initially announced on Feb. 25, 2011, NW Natural and Encana will develop natural gas reserves in the Jonah Field in Wyoming, located north of Rock Springs. NW Natural will invest in the reserves on behalf of its customers, and the investment will be placed in the company's rate base.