MarEn Bakken to buy 37% of Bakken Pipeline Project for $2 bln
Energy Transfer Partners LP and Sunoco Logistics Partners LP said Aug 2 that they have agreed to sell 36.75 percent of the Bakken Pipeline Project to MarEn Bakken Company LLC for $2 billion cash. Energy Transfer will receive $1.2 billion while Sunoco will get $800 million. The transaction includes the Dakota Access pipeline and the Energy Transfer Crude Oil pipeline. MarEn Bakken is jointly owned by Enbridge Energy Partners LP and Marathon Petroleum Corp. Porter Hedges LLP acted as legal counsel to ETP and SXL, and Credit Suisse Securities (USA) LLC acted as financial advisor.
3 August 2016•4 mins read
