Spectra to acquire pipeline system in $1.49-billion deal

摘要

Spectra Energy Corp. has signed a deal to buy the 1,717-mile Express-Platte Pipeline System for $1.49 billion. Houston-based Spectra will take on full ownership of the system in the deal, which comprises $1.25 billion in cash and $240 million of acquired debt. Two crude oil pipelines make up the system: A 24-inch, 785-mile pipeline runs from Hardisty, Alberta, to Casper, Wyo., and a 20-inch, 932-mile pipeline runs from Casper to Wood River, 111,