Bakken Pipeline

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  1. Enbridge-Marathon venture buys interest in Bakken Pipeline

    MarEn Bakken Co. LLC—an entity jointly owned by Enbridge Energy Partners LP and Marathon Petroleum Corp. —has agreed to acquire from Energy Transfer Partners LP (ETP) and Sunoco Logistics Partners LP a 36.75% interest in the Bakken Pipeline project for $2 billion. The Bakken system includes the Dakota Access pipeline and the Energy Transfer Crude Oil (ETCO) pipeline. After closing, a Marathon subsidiary will participate in a Dakota Access-Energy Transfer Crude Oil Pipeline open season, and subject to its terms and conditions, make a long-term volume commitment on the Bakken project. The companies expect to hold the open season before the end of next month. Bakken Holdings Co. LLC, a joint venture of ETP and Sunoco, owns 75% of both Dakota Access and ETCO. Bakken Pipeline will consist of 1,172 miles of new 30-in. OD crude oil pipeline extending from North Dakota to Patoka, Ill., and more than 700 miles of pipeline converted to crude service from Patoka to Nederland, Tex. Dakota Access will deliver more than 470,000 b/d of crude oil from the Bakken -Three Forks production area in North Dakota to the Midwest. ETCO will transport crude from the Midwest to Sunoco and Phillips 66 storage terminals in Nederland. Bakken Holdings is selling 49% of its 75% interest (36.75%) in Dakota Access and ETCO. The remaining 25% of each is owned by wholly owned subsidiaries of Phillips 66. ETP-Sunoco will retain 38.25% ownership. Sunoco will operate Bakken Pipeline. The sale is expected to close this quarter subject to regulatory approvals. ETP and Sunoco will receive $1.2 billion and $800 million in cash at closing, respectively. The Bakken Pipeline partners have arranged $2.5 billion in project financing to complete the project and will use the sale’s proceeds to pay down debt and to help fund other growth projects.

    Online Articles

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    Thu, 4 Aug 2016

  2. Final terms of Bakken pipeline project approved

    Energy Transfer Partners LP and Energy Transfer Equity LP have reported that the conflicts committees and the boards of directors of ETP and ETE have approved the final terms of the previously announced transaction involving the Bakken pipeline project and Sunoco Logistics Partners LP general ...

    Online Articles

    Online Articles

    Mon, 29 Dec 2014

  3. Marathon Petroleum to join Bakken pipeline JV

    Marathon Petroleum has agreed to participate in the formation of a joint venture to invest in the Dakota Access Pipeline and the Energy Transfer Crude Oil Pipeline projects, collectively referred to as the Bakken Pipeline system.

    Online Articles

    Online Articles

    Wed, 3 Aug 2016

  4. Sunoco Logistics to participate in Bakken Pipeline project

    Sunoco Logistics Partners LP has reached agreement with ETP to participate in the Bakken Pipeline project, which is jointly owned by ETP and Phillips 66.

    Online Articles

    Online Articles

    Thu, 7 May 2015

  1. Canadian Bakken pipeline moves closer to reality

    Online Articles

    Online Articles

    Wed, 30 Mar 2011

  2. NEB sets public hearings for Enbridge Bakken pipeline

    Canada’s National Energy Board intends to hold a public hearing to consider an application submitted by Enbridge Bakken Pipeline Co. Inc. for its proposed Bakken Pipeline Canada Project.

    Online Articles

    Online Articles

    Tue, 22 Mar 2011

  3. Oil and Gas News: Bakken Pipeline financing complete, share sold to pay debt

    Companies building an oil pipeline from North Dakota across the Midwest into Texas say they've completed project financing and sold a share of the pipeline to another company to pay down the debt.

    Online Articles

    Online Articles

    Wed, 3 Aug 2016

  4. Enbridge announces completion of Bakken Pipeline Expansion Project

    Enbridge Energy Partners announced the Bakken Pipeline Expansion Project is now complete and in service.

    Online Articles

    Online Articles

    Mon, 4 Mar 2013

  5. Iowa regulators approve Bakken pipeline permit

    The last state permit needed for a pipeline that will carry a half-million barrels of crude oil daily from North Dakota to Illinois was approved Thursday by Iowa utilities regulators, who also gave the Texas-based company authority to use eminent domain for land that property owners are unwilling ...

    Online Articles

    Online Articles

    Mon, 14 Mar 2016

  6. NorthStar Midstream announces Open Season for new Bakken pipeline

    NST Express intends to conduct an Open Season for the NST Express Pipeline, a new FERC regulated, crude oil transportation pipeline being constructed in McKenzie County, North Dakota. The pipeline will have the capacity to accept and deliver 40,000 bpd of crude oil from various potential ...

    Online Articles

    Online Articles

    Tue, 10 Nov 2015

  7. ONEOK Partners to build Bakken pipeline

    Tulsa, Okla.-based ONEOK Partners, LP is entering the crude-oil transportation business with plans to invest $1.5 billion to $1.8 billion to build a 1,300-mile crude-oil pipeline from the Bakken Shale in the Williston Basin in North Dakota to the Cushing, Okla., crude-oil market hub.

    Online Articles

    Online Articles

    Mon, 9 Apr 2012

  8. Summit develops Bakken pipeline interconnect, storage assets

    Summit Midstream Partners LLC (Summit Investments), the privately held company that owns and controls the general partner of Summit Midstream Partners LP (NYSE: SMLP) and also owns a 56.7% limited partner interest in SMLP, has provided a commercial update for its wholly owned operating ...

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    Online Articles

    Wed, 30 Jul 2014

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