Caliber Midstream Holdings, L.P. (Caliber) has acquired the North Dakota assets previously owned by American Midstream Partners, LP. The acquisition expands Caliber’s crude oil gathering and transportation service lines and widens Caliber’s area of operations within McKenzie County, North Dakota.
“This bolt-on acquisition is another step in executing our growth strategy. Our goal is to become a top-tier midstream company,” said Caliber Chief Executive Officer and President Daniel Werth. “We want to be the partner of choice across all aspects of our business, from crude oil gathering and transportation, natural gas gathering and processing services to freshwater sourcing and produced water management. This acquisition will help us achieve our goal by providing added scale and by allowing us to facilitate new commercial opportunities to deliver innovative and cost-effective solutions for our customers.”
About the acquired American Midstream North Dakota assets
The acquired assets include a FERC-regulated crude oil gathering and pipeline transportation system consisting of a 47 mile pipeline and related facilities with the ability to transport crude oil to the Tesoro High Plains Pipeline and the Energy Transfer Dakota Access Pipeline. The system provides regional producers with flexibility and access to refinery, rail and pipeline markets. The system also has the capability to receive volumes through its truck rack.
With the acquisition, Caliber now owns and operates 368 miles of pipeline across its four service lines in McKenzie County, North Dakota. In addition, Caliber is scheduled to add 11 miles to its crude gathering and transmission system by year end.
Holland & Hart LLP served as legal counsel to Caliber.
Read the article online at: https://www.worldpipelines.com/business-news/06082019/caliber-expands-footprint-in-the-bakken-shale/