Enbridge to Acquire ConocoPhillips’s Interest in Seaway Crude Pipeline System for US$1.15 billion

Enbridge Inc. (TSX:ENB,NYSE:ENB) reported that it will acquire ConocoPhillips’ (NYSE: COP) 50 percent interest in the Seaway Crude Pipeline System for US$1.15 billion.

As quoted in the press release:

The 670-mile (1,078-kilometer) Seaway Crude Pipeline System (SCPS) includes the 500-mile (805-kilometer), 30-inch diameter Freeport, Texas to Cushing, Oklahoma long-haul system, as well as the Texas City Terminal and Distribution System which serves refineries in the Houston and Texas City areas.

Click here to read the Enbridge Inc. (TSX:ENB) press release