Announced
Completed
Financials
Tags
Majority
Private
Oil Equipment and Services
oil pipeline
United States
Completed
Infrastructure
Acquisition
Domestic
Friendly
Synopsis
Enbridge, an energy infrastructure company, And Plains, an energy pipeline operator, completed the acquisition of the remaining 15% stake in Cactus II Pipeline, an oil pipeline, from Western Midstream Partners, a midstream energy company, for $265m. “Today’s announcement is another important step in advancing our USGC strategy to connect growing Permian production to global export markets. The Cactus II pipeline specifically adds to our advantaged light oil integrated value chain providing low-cost access to the best markets for our shippers,” Colin Gruending, Enbridge Executive Vice President.
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