Enbridge Subsidiary Drops $160M On Eaglebine Assets
By Igor Kossov (February 9, 2015, 6:30 PM EST) -- Enbridge Energy Partners' midstream vehicle, Midcoast Energy Partners, bought into the Eaglebine shale play in East Texas for $160 million on Monday to give its assets some geographical diversity.
The partnership struck two deals to get into the play. It agreed with Burk Royalty Co Ltd. and Sequitur Energy Resources LLC to build, own and operate a pipeline in Houston County by late 2015. It also agreed to buy New Gulf Resources LLC's midstream business in Leon, Madison and Grimes counties.
"This marks another step forward as we execute on our strategic initiatives to geographically diversify our asset footprint, increase the...
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