Enbridge to buy Tallgrass crude oil business for $2.55 billion
Enbridge will acquire a 75% interest in the Pony Express Pipeline, a 1,050-mile crude system linking the Rockies to Cushing, plus a 51% stake in the Powder River Gateway and about 8.4 million barrels of storage at nine terminals, along with Stanchion Energy. Closing is expected later in 2026, subject to regulatory clearance, with accretive cash-flow impact and unchanged 2026 guidance, partially funded via an equity offering.
Coverage (10)
- Enbridge to buy Blackstone’s Tallgrass crude oil business for US$2.55 billion (bnnbloomberg.ca)
- Enbridge to buy Tallgrass crude oil transport business for $2.5bn (offshore-technology.com)
- Rocky Mountain high: Enbridge acquires Tallgrass Energy assets for US$2.55 billion (enbridge.com)
- Enbridge to Buy Tallgrass Crude Pipeline Business for $2.55 Billion (finance.yahoo.com)
- Enbridge to acquire Tallgrass Energy's crude transportation business for $2.55 billion (ogj.com)
- Enbridge further expands stateside with $2.55B US pipeline and storage deal (cbc.ca)
- Enbridge to Acquire Tallgrass Crude Oil Assets (tipranks.com)
- Canada's Enbridge to buy Tallgrass crude oil business for $2.55 billion (reuters.com)
- Enbridge further expands stateside with US$2.55B pipeline and storage deal (ca.finance.yahoo.com)
- Enbridge to Acquire Tallgrass' Crude Transportation Business, Expanding Its Leading North American Crude Oil Franchise (ca.finance.yahoo.com)