Locator: 51699B.
Marriage made in heaven, link here:
Sept 9 (Reuters) – Enbridge said on Wednesday, September 9, 2026, it will acquire Blackstone -owned Tallgrass Energy’s crude oil business for $2.55 billion in cash, expanding its U.S. liquids pipeline network by buying a majority stake in the Pony Express Pipeline and other assets. [We've heard those names on the blog many, many times over the years.]
The Canadian pipeline operator said the deal would strengthen its presence in key U.S. crude-producing regions, including the Bakken, Powder River and Denver-Julesburg basins, while creating operational synergies with its existing Express-Platte pipeline system.
Enbridge will acquire a 75% interest in the Pony Express Pipeline, a 1,050-mile (1,690-km), 460,000-barrel-per-day (bpd) crude system that links production in the Rockies to the Cushing, Oklahoma, storage hub and provides access to about 500,000 bpd of refining capacity.
U.S. President Donald Trump had issued several pipeline permits in April, including one for construction of a new pipeline, to facilitate the transportation of crude oil and petroleum products between the U.S. and Canada.
The acquisition, expected to close later in 2026, subject to regulatory clearance, also includes a 51% stake in the Powder River Gateway pipeline system, nearly 8.4 million barrels of storage across nine crude terminals connected to Pony Express, and the crude marketing business Stanchion Energy.
Tickers:
- AAPL: slightly lower today after it's semi-annual presentation; but up nicely after hours.
- CVX: up 2% today; up $4 today; very near its 52-week high.
- MPC: another 52-week high intraday, but dropped a bit at the close.
- SCCO: up slightly today; recommended as "last trade" on "Fast Money."
- GLW: another nice "up" day but still way off its highs.
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Back to the Bakken
WTI: $96.05. Already expensive, up $3.02; up 3.25%.
Active rigs: 34.
Two new permits, #43292 - #43293 --
- Operators: BR, Oasis
- Fields: Dimmick Lake (McKenzie County); Murphy Creek (Dunn County)
- Comments:
- BR has a permit for a Stortroen well, SESW 7-151-96,
- to be sited 1022 FSL and 1225 FWL;
- Oasis has a permit for a Chang 4595 42-19 6B well, SWSE 19-145-95,
- to be sited 838 FSL and 2314 FEL.
Six permits renewed:
- Hess (5): fuve RS-Holland permits, Cottonwood oil field;
- Foundation Energy Management, #33867, Audrey 3526 2H, Beaver Creek; Golden Valley;
Four producing wells (DUCs) reported as completed:
- 41997, 985, Slawson, Rebel Federal 2-32-17H, Mountrail;
- 42034, 255, Slawson, Rebel Federal 3-32-17H, Mountrail;
- 42218, 843, CLR, Louisville Federal 6-7H, McKenzie;
- 42470, 523, Petro-Hunt, Estby 159-94-26A-35-1HS, Burke County.
