Enbridge to Acquire Tallgrass Pipelines for $2.55 Billion
Source Summary
Enbridge announced an acquisition of Tallgrass Pipelines for $2.55 billion. The deal includes a 75 percent stake in the Pony Express Pipeline, which transports approximately 460,000 barrels per day of crude oil from the Rockies to Cushing, Oklahoma.
Why it matters
The acquisition expands Enbridge's crude oil transportation capacity and strengthens its control over a major pipeline connecting Rockies production to a key U.S. distribution hub.
