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Company News

MEG Energy to sell some pipeline, storage assets for C$1.61 bln

Feb 8 (Reuters) - Canadian oil sands producer MEG Energy said on Thursday it had agreed to sell some of its pipeline and storage assets for C$1.61 billion ($1.28 billion) to Wolf Midstream Inc.

MEG said it would sell its Stonefell oil storage terminal for C$210 million and a 50 percent interest in Access Pipeline for C$1.4 billion.

Separately, MEG reported revenue of C$755 million for the fourth quarter, up from $566 million a year earlier. ($1 = C$1.26) (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D’Souza)

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