US-headquartered pipeline operator Caliber Midstream has announced the acquisition of the North Dakota assets from American Midstream Partners.
The acquisition will enable Caliber Midstream to expand its crude oil gathering and transportation service lines.
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It will also help Caliber extend its area of operations within McKenzie County in North Dakota, thereby expanding the company’s footprint in the Bakken Shale.
Caliber Midstream chief executive officer and president Daniel Werth said: “This bolt-on acquisition is another step in executing our growth strategy. Our goal is to become a top-tier midstream company.
“We want to be the partner of choice across all aspects of our business, from crude oil gathering and transportation, natural gas gathering and processing services to freshwater sourcing and produced water management.
“This acquisition will help us achieve our goal by providing added scale and by allowing us to facilitate new commercial opportunities to deliver innovative and cost-effective solutions for our customers.”
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By GlobalDataThe acquired American Midstream North Dakota assets include a Federal Energy Regulatory Commission (FERC)-regulated crude oil gathering and pipeline transportation system. It comprises of a 47-mile pipeline and associated infrastructure.
The facilities of the pipeline system possess the ability to transport crude oil to the Tesoro High Plains Pipeline and the Energy Transfer Dakota Access Pipeline.
With the ability to receive volumes through its truck rack, the pipeline transportation system provides regional producers with easy access to the refinery, rail and pipeline markets.
Caliber now owns and operates 368 miles of pipeline across its four service lines in McKenzie County and North Dakota.
Caliber also plans to add 11 miles to its crude gathering and transmission system by the end of this year.
The company provides midstream services to producers in the Bakken and Three Forks shale oil plays.
Holland & Hart acted as legal counsel to Caliber in relation to the transaction.
