ConocoPhillips Sells Stakes In Pipeline Cos. For $2B

Law360, New York (November 16, 2011, 2:59 PM EST) -- As part of $2 billion in pipeline asset sales, energy giant ConocoPhillips will sell its ownership stake in Seaway Crude Pipeline Co. for $1.15 billion to Enbridge Inc., reversing the pipeline's flow from Oklahoma to the Gulf Coast, the companies said Wednesday.

The Canadian energy transporter will buy the 50 percent interest of Houston-based ConocoPhillips in the 670-mile Seaway Crude Pipeline System, making it the pipeline's joint owner with Enterprise Products Partners LP, the companies said. That transaction is expected to close in December, ConocoPhillips said....
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