Targa Resources Partners to buy Bakken pipeline for $950 mln
Nov 15 (Reuters) - Targa Resources Partners LP said it will buy Williston Basin crude oil pipeline and terminal system and related assets in North Dakota from Saddle Butte Pipeline LLC for $950 million.
The pipeline system is located in the oil-rich Bakken Shale field in the McKenzie, Dunn and Mountrail counties and has about 155 miles of crude oil pipelines.
The assets have a combined crude oil operational storage capacity of 70,000 barrels, Targa said in a statement.
The company plans to fund the deal and associated capital expenditures with about 50 percent debt and 50 percent equity.
Targa Resources Partners is managed by its general partner, Targa Resources GP LLC, which is owned by Targa Resources Corp .
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial |
- Google bus blocked in San Francisco gentrification protest
- Reporter can keep sources secret in Colorado theater shooting: court
- Couple, four children missing in Nevada found safe in canyon
- Regulators seek to curb Wall St. trades with Volcker rule |