Tundra Energy is acquiring a pipeline system in Saskatchewan from Enbridge for just over a billion dollars in cash.
Calgary-based Tundra says the deal is expected to close by the end of this year, subject to regulatory approvals.
The South East Saskatchewan Pipeline System currently transports about 175-thousand barrels of crude oil per day to Enbridge’s Mainline system in Manitoba.
All Enbridge employees currently working on the system are expected to join Tundra.
(The Canadian Press)