MEG Energy has agreed to divest its 50% stake in pipeline operating company Access Pipeline for C$1.4bn ($1.11bn) to Wolf Midstream.
The 345km dual-line access pipeline runs between MEG’s Christina Lake project and the refining and transportation hub in Edmonton.
MEG and Wolf Midstream have also signed a transportation services agreement (TSA) as part of the deal, under which the former’s Christina Lake production and condensate will be transported through the pipeline for a period of 30 years.
The transaction also includes the divestment of MEG’s 100% stake in Stonefell Terminal for C$210m ($167.5m) to Wolf Midstream.
MEG is a Canadian oil and gas company, while Wolf Midstream, also based in Canada, is a midstream energy infrastructure company.
BMO Capital Markets and Credit Suisse AG have been appointed as financial advisors for the deal, while Burnet, Duckworth & Palmer LLP and Latham & Watkins LLP are the legal advisors.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe asset acquisition will strengthen Wolf Midstream’s asset base. MEG will use the funds raised from the divestment to repay its debts and for development activities.
The transaction is expected to be completed in the first quarter of 2018.
INA-Industrija nafte d.d. has increased its stake in Energopetrol d.d. Sarajevo to 88.6% by acquiring an additional 21.6% stake for BAM131m ($87m). FiH Government and other shareholders own the remaining 11.4% in the company.
INA purchased the stake by issuing 10.48 million shares priced at BAM12.5 ($8.3) a share.
Based in Croatia, INA is an integrated oil and gas company, while Energopetrol is an owner and operator of petrol filling stations also based in Croatia.
The transaction is expected to strengthen INA’s business operations.