One-Page Deal Sheet
Oxy Divests BridgeTex Pipeline in Deals with Plains, Magellan
Magellan Midstream Partners Lp, Plains All American Pipeline, L.P., Plains Gp Holdings Lp Occidental Petroleum Corp
Announced Date
November 06,2014
Close Date
November 14,2014
Transaction Type
Asset
Location
Region
Permian - Delaware Basin,Permian - Midland Basin
Country
United States
State
Texas
Play
Transaction Details: Require Private Equity Subscription
Closing Announcement - November 14, 2014
Oxy completed the divestment of its 50% interest in the Permian Basin BridgeTex Pipeline System. The pipeline was previous owned by Oxy and Magelland Midstream Partners.
Initial Announcement - November 6, 2014Occidental Petroleum Corporation has entered into an agreement with Plains All American Pipeline, to sell its 50 percent interest in BridgeTex Pipeline Company, LLC (BridgeTex) to PAA for $1.075 billion.
BridgeTex, a company jointly owned by Occidental and Magellan Midstream Partners, L.P., owns the BridgeTex Pipeline, a 300,000 barrel-per-day…