Nov 15 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