STX Energy of South Korea Acquires Gas Field in BC

Seoul-based STX Energy announced that it has acquired the Maxhamish gas field in Northeastern BC, from Calgary-based EnCana, for C$152 million. The gas field is 616 sq. km. in size and is estimated to hold 120 billion cu. ft. of gas. STX Energy plans to increase the daily production of the gas field from its current 20.5 million cu. ft. to 27 million cu. ft. STX Energy operates in several business areas including combined power plant management, resource development, overseas power plant management, renewable energy business, and oil product storage and sales.