Genesis to buy Enterprise offshore pipelines

Genesis Energy LP has agreed to buy the Gulf of Mexico pipelines and services business of Enterprise Products Partners LP for $1.5 billion cash.

The acquisition covers nine crude oil pipelines totaling more than 1,100 miles, nine natural gas pipeline systems totaling about 1,200 miles, and interests in six hub platforms.

Acquired interests include 36% in the Poseidon Oil Pipeline System, 50% in the Southeast Keathley Canyon Oil Pipeline System (SEKCO), and 50% in the Cameron Highway Oil Pipeline System (CHOPS).

Before the transaction, Genesis Energy held 28% of Poseidon, 50% of SEKCO, and 50% of CHOPS.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...