Inter Pipeline to acquire Milk River pipeline in swap deal with Plains
Sep 28, 2020 | 8:04 AM
-
Share on Facebook
-
Share on Twitter
- Copy Link
CALGARY – Inter Pipeline Ltd. has signed a deal to acquire the Milk River pipeline system from a subsidiary of Plains All American Pipeline LP, in exchange for its 100 per cent ownership interest in the Empress II and 50 per cent ownership interest in the Empress V straddle plants.
Plains will also pay Inter Pipeline $35 million in cash.
The Milk River pipeline system includes two 16-kilometre pipelines with current throughput volume of about 90,000 barrels per day and links Inter Pipeline’s Bow River pipeline system from Milk River, Alta., to the Canada-U.S. border.
Inter Pipeline will also acquire pumping and metering facilities, two crude oil storage tanks and truck unloading facilities as part of the deal.
