Targa Resources buys Bakken pipeline, assets

摘要

Houston-based Targa Resources Partners LP (NYSE: NGLS) has agreed to acquire 100% of Saddle Butte Pipeline LLC's Williston Basin crude oil pipeline and terminal system and its gas gathering and processing operations for $950 million in cash. The assets are in the Bakken shale play in McKenzie, Dunn, and Mountrail counties, North Dakota, and include some 155 miles of crude oil pipelines and combined crude storage capacity of 70,000 bbl. Saddle Butte also includes about 95 miles of gathering lines and a 20-million-cu.-ft.-per-day gas processing plant with an expansion under way to increase capacity to 40 million cu. ft. per day.