Caliber Midstream Holdings said Tuesday it’s acquired Bakken assets in North Dakota from American Midstream Partners for an undisclosed price, Kallanish Energy reports.
The purchase expands Caliber’s crude oil gathering and transportation service lines and widens Caliber’s area of operations within McKenzie County, North Dakota.
The acquired assets include a Federal Energy Regulatory Commission-regulated crude oil gathering and pipeline system consisting of a 47-mile pipeline and related facilities.
The system can flow crude oil to the Tesoro High Plains and the Energy Transfer Dakota Access pipelines. The system provides regional producers with flexibility and access to refinery, rail and pipeline markets. The system also has the capability to receive product through its truck rack.
“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,” said Daniel Werth, Caliber president and CEO.
“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.”
Holland & Hart LLP served as legal counsel to Denver-based Caliber.
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