V&E Reps Targa Resources On $950M Bakken Shale Asset Buy

Law360, New York (November 15, 2012, 1:55 PM EST) -- Texas-based midstream natural gas company Targa Resources Partners LP will acquire producing oil and gas assets in North Dakota's fossil-fuel rich Bakken Shale from Saddle Butte Pipeline LLC for $950 million in cash, Targa Resources said Wednesday.

The midstream gas limited partnership will assume ownership of Saddle Butte's crude oil assets in the Williston Basin, including two terminals and roughly 155 miles of oil pipelines. Targa Resources will also receive Saddle Butte's natural gas gathering pipelines and processing plants in the region, it said.

The deal...
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