MEG Energy Unloads Midstream Assets In $1.27B Deal

Law360 (February 8, 2018, 5:00 PM EST) -- Canadian oil sands producer MEG Energy Corp. said Thursday that it's agreed to sell its 50 percent stake in a pipeline system serving its operations, plus a storage terminal, to Canadian pension fund-backed Wolf Midstream Inc. in a deal worth CA$1.6 billion ($1.27 billion) in cash and other considerations.

MEG Energy will receive CA$1.4 billion for its stake in the Access Pipeline system, which ships and treats oil sands from northeastern Alberta to the Edmonton area for delivery to oil terminals, and CA$210 million for its...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.