Encana Oil & Gas (USA) is offloading a part of its Piceance natural gas midstream assets in Colorado for nearly $590 million. The assets will be sold to a private midstream company.

The sale will generate capital for Encana to re-invest into its business of growing natural gas and liquids production. Post-deal, the company’s net divestitures of 2011 will be almost $600 million.

Click here for the release from Encana.