Inter Pipeline Acquires Milk River Pipeline System
Inter Pipeline announced it completed the acquisition of the Milk River pipeline system from Plains Midstream Canada ULC, in exchange for its 100% ownership in the Empress II and 50% ownership in the Empress V straddle plants. Inter Pipeline also received cash proceeds of approximately $35 million, which will be used to reduce outstanding indebtedness.
The Milk River pipeline system provides an important link between Inter Pipeline's Bow River pipeline system and the U.S./Canadian border west of Coutts, Alberta. The Milk River system is primarily comprised of two 16-kilometer (10-mile) pipelines with throughput volume of approximately 90,000 bpd, the majority of which is sourced from the Bow River system. This high degree of integration is expected to result in meaningful operational and commercial synergies with Inter Pipeline's existing conventional oil transportation business.
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