Energy company Pembina Pipeline Corp. said it has received approval from the Canadian Competition Bureau on Nov. 20, to buy Kinder Morgan Canada Ltd.
The company said the approval satisfies the last regulatory condition necessary for the deal to close.
In August, Pembina Pipeline had agreed to buy Kinder Morgan Canada and the U.S. portion of the Cochin pipeline for $3.27 billion, bulking up its storage resources in Canada.
Pembina’s deal follows an unsolicited bid for rival Inter Pipeline Ltd., highlighting growing interest in the midstream business of transporting and storing crude.
The deal is expected to close next month, and is contingent on approval by Kinder Morgan Canada shareholders at a special meeting scheduled on Dec. 10.
Company also sells excess pipeline capacity to WhiteWater Midstream and MPLX.
Whiting Petroleum, an oil and gas producer with operations in North Dakota and Colorado, is in deal talks with San Antonio-based Abraxas Petroleum, two people familiar with the matter told Reuters.
Here’s a quicklist of oil and gas assets on the market including properties in the Permian Basin from Encana and Lilis Energy plus an ORRI package in the Eagle Ford Shale from Hess.