Stabilis Energy closed the acquisition of substantially all of the U.S.-based assets of Encana Natural Gas Inc. (ENGI) of Denver. Terms of the transaction were not disclosed.

ENGI, a subsidiary of Calgary-based Encana Corp. (NYSE, TO: ECA), is a distributor of LNG fuel to domestic high horsepower engine operators in the oilfield, mining, rail, marine, over the road transportation and industrial sectors. The transaction is part of Encana's transition strategy launched in 2014 to grow liquids production by 90%. The company said in December 2013 it would invest about 75% of its 2014 capital into five high-return oil and liquids-rich plays: the Montney, Duvernay, D-J Basin, San Juan Basin and Tuscaloosa Marine Shale.

Stabilis, of Beaumont, Texas, agreed to purchase ENGI fleet of cryogenic rolling stock assets including storage and regasification trailers, mobile fueling units and other related equipment. Stabilis will fulfill all of ENGI's existing customer obligations including its existing contracts.