Caliber Midstream Acquires American Midstream Partners' North Dakota Assets to Expand in Bakken Shale.
M2 EQUITYBITES-August 8, 2019-Caliber Midstream Acquires American Midstream Partners' North Dakota Assets to Expand in Bakken Shale
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8 August 2019 - Colorado, US-based energy infrastructure company Caliber Midstream Holdings, L.P. has acquired the North Dakota crude oil gathering and transportation assets previously owned by American Midstream Partners, LP, the company said.
Terms of the transaction were not disclosed.
The bolt-on acquisition expands Caliber's crude oil gathering and transportation service lines and widens Caliber's area of operations within McKenzie County, North Dakota.
The acquired assets include a FERC-regulated crude oil gathering and pipeline transportation system consisting of a 47-mile pipeline and related facilities with the ability to transport crude oil to the Tesoro High Plains Pipeline and the Energy Transfer Dakota Access Pipeline.
The system provides regional producers with flexibility and access to refinery, rail and pipeline markets. The system also has the capability to receive volumes through its truck rack.
With the acquisition, Caliber now owns and operates 368 miles of pipeline across its four service lines in McKenzie County, North Dakota. In addition, Caliber is scheduled to add 11 miles to its crude gathering and transmission system by year end.
Caliber is an independent, growth-oriented energy infrastructure company that provides a full suite of midstream services to producers in the Bakken and Three Forks shale oil plays.
Caliber is focussed on developing innovative, cost-effective and efficient solutions developed synergistically, to handle a producer's molecules, not just hydrocarbons. Caliber operates through a partnership between BlackRock Global Energy and Power Infrastructure Fund I, L.P. and Triangle Petroleum Corp.
Holland and Hart LLP served as legal counsel to Caliber.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Aug 8, 2019|
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