BP Pipeline Unit Files IPO Led By Vinson & Elkins

Law360, New York (September 11, 2017, 2:54 PM EDT) -- British energy giant BP filed an initial public offering on Monday for a newly formed master limited partnership that will operate the company's U.S. pipelines, advised by Vinson & Elkins LLP.

BP Midstream Partners LP's preliminarily plans to raise $100 million, according to its registration statement, though that number can be significantly revised once share totals and pricing terms are set. Fundraising figures are typically updated just before a company formally launches its offering.

Houston-based BP Midstream plans to operate and acquire infrastructure for its parent company, focusing initially on pipelines that transport crude oil to BP's Whiting Refinery off Lake...

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