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Targa Resources Spends $950 Million To Acquire Bakken Midstream Assets

Targa Resources Partners Lp Saddle Butte Llc
AnnouncedNov 15, 2012
TypeAsset
LocationBakken Shale & Three Forks
Announced Date
November 15,2012
Transaction Type
Asset




Snapshot
Location
Region
Williston Basin

Country
United States

State
North Dakota

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Targa Resources Partners LP  announced today that it has agreed to acquire 100% of Saddle Butte Pipeline, LLC's ownership of its Williston Basin crude oil pipeline and terminal system and its natural gas gathering and processing operations for cash consideration of $950 million, subject to customary purchase price adjustments and certain contingent payments.

The transaction is expected to close during the fourth quarter of 2012, subject to customary regulatory approvals and closing conditions.The business to be acquired is located in the heart of the oil-rich Bakken Shale Play in McKenzie…



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