04:49:59 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 929,227,712
Close 2016-08-03 C$ 53.01
Market Cap C$ 49,258,361,013
Recent Sedar Documents

Globe/wire say Enbridge, Marathon buy pipeline interest

2016-08-04 08:24 ET - In the News

The Globe and Mail reports in its Thursday, Aug. 4, edition that a unit of Enbridge ($40.56) and Marathon Petroleum have agreed to pay a combined $2-billion in cash for an interest in the Bakken pipeline system from an affiliate of Energy Transfer Partners LP and Sunoco Logistics Partners LP (all figures U.S.). A Bloomberg dispatch to The Globe reports that Enbridge Energy Partners LP is forming a joint venture with Marathon Petroleum to acquire a 49-per-cent interest in the holding company that owns 75 per cent of the pipeline network, the companies said in separate statements. The Enbridge unit said it is paying $1.5-billion for its share in the deal, while Marathon Petroleum said it will come in with $500-million. The deal gives Enbridge the ability to move shale oil from the Bakken to refineries along the United States Gulf Coast, through connections to its mainline. Enbridge will seek to set joint tolls to the gulf. The Bakken pipeline system consists of the Dakota Access pipeline and Energy Transfer crude oil pipeline. Dakota Access will run from western North Dakota to Patoka, Ill., and the Energy Transfer line from Patoka to Nederland, Tex.

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