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Occidental Petroleum Corp. To Sell 50% Of Bridgetex Pipeline Co. | Oilonline
Plains All American Pipeline enters into agreement to acquire 50% interest in BridgeTex site Pipeline Co. from Occidental Petroleum Corp. Written by OilOnline Press - November 7th, 2014 Plains All American Pipeline (PAA) has agreed to purchase Occidental Petroleums 50% interest in the BridgeTex Pipeline Co. for US$1.075 billion. The sale will cover the pipelines approximate 400mi northern leg, which runs from the Permian Basin to East Houston. Magellan Midstream Partners http://sheltonrdch.crowdvine.com (MMP) kim kardashian and rayj operates and owns the remaining 50% interest in BridgeTex. In addition, BridgeTex has agreed to sell the southern leg of the pipeline system which runs from Houston to Texas home page City, known as the Texas City Leg, to MMP for $75 million. MMP has agreed to enter into a long-term capacity lease with BridgeTex, allowing BridgeTex shippers access to capacity on the Texas City Leg.
Source: http://www.oilonline.com/news/business-activity/occidental-petroleum-corp-sell-50-bridgetex-pipeline-co