Enbridge Holdings (Seaway) LLC, a subsidiary of Enbridge (U.S.) Inc., an affiliate of Enbridge Inc., Calgary, (NYSE, Toronto: ENB) plans to acquire the ownership interest in the Seaway Crude Pipeline Co. from ConocoPhillips, Houston, (NYSE: COP) for $1.15 billion.
The 670-mile pipeline system includes the 500-mile (805-kilometer), 30-inch-diameter long-haul system from Freeport, Texas, to Cushing, Okla., and the Texas City terminal and distribution system serving refineries in the Houston and Texas City areas. The system also includes 6.8 million bbl. of crude-oil tankage on the Texas Gulf Coast and four import docks at two locations.
The line is currently being reversed to go from Cushing to the Gulf Coast, and is expected to have initial capacity of 150,000 bbl. per day by second-quarter 2012.
Following pump-station additions and modifications, anticipated to be completed by early 2013, the capacity of the reversed pipeline will be up to 400,000 bbl. per day in mixed service.`
Recommended Reading
US Raises Crude Production Growth Forecast for 2024
2024-03-12 - U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook.
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
TotalEnergies Starts Production at Akpo West Offshore Nigeria
2024-02-07 - Subsea tieback expected to add 14,000 bbl/d of condensate by mid-year, and up to 4 MMcm/d of gas by 2028.
US Drillers Add Oil, Gas Rigs for Third Time in Four Weeks
2024-02-09 - Despite this week's rig increase, Baker Hughes said the total count was still down 138 rigs, or 18%, below this time last year.
NAPE: Turning Orphan Wells From a Hot Mess Into a Hot Opportunity
2024-02-09 - Certain orphaned wells across the U.S. could be plugged to earn carbon credits.