Wolf Midstream Inc. Signs Agreement to Acquire 50% Interest in Access Pipeline in Alberta for $1.4 Billion
10/7/2016
Calgary-based Wolf Midstream will acquire a 50% ownership interest in Access Pipeline from Devon Energy for $1.4 billion. The Access system includes pipelines transporting blended bitumen and diluent between the Christina Lake area of northeastern Alberta and Edmonton. Under the terms of the contract, Devon’s thermal-oil acreage is dedicated to Access for an initial term of 25 years. Closing is expected during the third quarter.
In September 2015, Wolf’s management team and Canada Pension Plan Investment Board (CPPIB) created a midstream investment vehicle focused on acquisition opportunities in Western Canada. The transaction will be funded at closing by Wolf through an investment by CPPIB of $825 million and third-party debt financing.
Related News
Related News
Sign up to Receive Our Newsletter
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- US Poised to Become Net Exporter of Crude Oil in 2023
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
Comments