Pacific Energy Group (PEG) has acquired BP's Rocky Mountain crude oil pipeline assets.
Among the assets purchased are nearly 1,600 mi of trunklines, 500 mi of gathering lines and 2.6 million bbl of storage capacity associated with undivided interests in three pipelines, which extend from the Canadian border to Guernsey, Wyo. The facilities make up the Western Corridor System, a PEG and Conoco Pipe Line co. joint venture.
The assets include: BP's 20.8% interest in the Glacier pipeline; BP's 50% interest in the Beartooth pipeline; BP's 57.6% interest in the Big Horn pipeline; BP's 100% ownership in the Salt Lake City Core System (Big Horn and Powder River gathering mainline operations from Guernsey/Fort Laramie to Salt Lake City, Utah); and a trucking fleet that transports crude oil and water produced from oil wells.
In December 2001, PEG acquired BP's 9.72% interest in Frontier Pipeline, bringing its total ownership interest to 22.22%.
Recommended Reading
US Geothermal Sector Gears Up for Commercial Liftoff
2024-04-17 - Experts from the U.S. Department of Energy discuss geothermal energy’s potential following the release of the liftoff report.
Energy Transition in Motion (Week of April 19, 2024)
2024-04-19 - Here is a look at some of this week’s renewable energy news, including the latest on global solar sector funding and M&A.
Oil, Gas Drilling Tech Transfer Boosts Fervo’s Geothermal Prowess
2024-02-14 - Geothermal company Fervo Energy is learning from oil and gas drilling and completion techniques to improve geothermal well costs and drill times.
Energy Transition in Motion (Week of April 12, 2024)
2024-04-12 - Here is a look at some of this week’s renewable energy news, including a renewable energy milestone for the U.S.
Google Exec: More Collaboration Needed for Clean Power
2024-04-17 - Tech giant Google has partnered with its peers and several renewable energy companies, including startups, to ramp up the presence of renewables on the grid.