2 companies pull out of Mackenzie Delta

Oil companies Encana and Anadarko are selling their properties in the Mackenzie Delta region of the Northwest Territories, saying their priorities have changed.

Calgary-based Encana and Houston-based Anadarko hold property near gas reserves that may one day fill the proposed Mackenzie Valley gas pipeline.

Encana spokesman Alan Boras said the sale does not mean the company has lost confidence in the pipeline project.

"We have done the exploration to date," said Boras. "We've had some encouraging results. It may be a time to see if these assets are of interest to potentially other operators."

Anadarko is divesting itself of all its Canadian holdings.

Pipeline less a factor, analyst says

Purvin and Gertz gas analyst Gerry Goobiesaidthe sale has more to do with the long-term business strategies of the two companies than the future of the proposed pipeline.

"Whatever happens, Encana will not be a big player in that area simply by virtue of the fact that this is not a big property," he said.

Inuvik resident Anne Crossman, editor ofan oil and gas digest, said the news feels like another blow to the region.

'One hopes that somebody who is going to do something will do the purchasing.' -Inuvik resident Anne Crossman

She said it's hard to live in the holding pattern that has developed around oil and gas in the Delta.

"One hopes that somebody who is going to do something will do the purchasing," Crossman said.

She hopes Chevron and BP will still go ahead with work in the region this winter.