Enbridge, Marathon Pay $2B For Bakken Pipeline Stake

By Benjamin Horney (August 3, 2016, 12:11 PM EDT) -- An entity owned by Enbridge Energy Partners LP and Marathon Petroleum Corp. has inked a $2 billion agreement to acquire a 36.75 percent stake in the lucrative Bakken pipeline project from Energy Transfer Partners LP and Sunoco Logistics Partners LP, the companies said Tuesday.

Under the terms of the deal, Enbridge- and Marathon-owned MarEn Bakken Co. LLC will acquire a 36.75 percent stake in the in-development pipeline project, which taps into the Bakken Shale in energy-rich North Dakota and is on track to be ready for service by the end of this year. The deal will see ETP receive $1.2 billion,...

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