Targa Resources Partners LP said Thursday it will acquire all of Saddle Butte Pipeline LLC’s ownership of its Williston Basin crude oil pipeline and terminal system as well as its natural gas gathering and processing operations for $950 million in cash.
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High Prairie Awaits FERC Decision on Dispute over Enbridge Tie-in
High Prairie Pipeline LLC, a wholly-owned subsidiary of Durango, CO-based Saddle Butte Pipeline LLC, expects FERC to act soon on its complaint that Enbridge Energy Ltd. has discriminated against it by denying it an interconnection to deliver oil from the Bakken Shale formation to the market hub at Clearbrook MN, a spokesman said Tuesday (see Shale Daily, June 4).
Anadarko Reports Winter Drilling Success in Canada
Anadarko Petroleum Corp., committed to spending US$270 million on Canadian E&P this year, announced early success Monday in its winter drilling program in northeastern British Columbia and northern Alberta, with three natural gas discoveries and several successful oil field development projects.
CA Regulators to Saddle Largest Users with 52% Rate Hikes
As a backdrop to the latest series of blackouts, California Gov. Gray Davis huddled Wednesday in Sacramento with large merchant generators while his chief utility regulator prepared for next week’s electric rate decision. The largest residential users and all businesses will carry the burden of retail price increases up to 52% for some customers. Both low-income and low-energy-consuming residential customers will be exempted for the rate increase.