M&A Deal Summary

Spectra Energy Acquires Express-Platte Pipeline System

On March 14, 2013, Spectra Energy acquired energy services and equipment company Express-Platte Pipeline System for 1.5B USD

Acquisition Highlights
  • This is Spectra Energy’s 1st transaction in the Energy Services and Equipment sector.
  • This is Spectra Energy’s largest (disclosed) transaction.
  • This is Spectra Energy’s 2nd transaction in the United States.
  • This is Spectra Energy’s 2nd transaction in Texas.

M&A Deal Summary
Date 2013-03-14
Target Express-Platte Pipeline System
Sector Energy Services and Equipment
Buyer(s) Spectra Energy
Deal Type Add-on Acquisition
Deal Value 1.5B USD

Target

Express-Platte Pipeline System

Texas, United States
The Express-Platte Pipeline System, which begins in Hardisty, Alberta, and terminates in Wood River, Illinois, includes the Express and Platte crude oil pipelines. The Express pipeline carries crude oil to refining markets in the Rocky Mountain states. The pipeline’s capacity is 280,000 barrels a day. The Platte pipeline, which interconnects with the Express pipeline in Casper, Wyoming, transports crude oil predominantly from the Bakken and Western Canada to refiners in the Midwest. Platte’s capacity ranges from 164,000 barrels a day in Wyoming to 145,000 barrels a day in Illinois.

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Buyer(S) 1

Buyer

Spectra Energy

Houston, Texas, United States

website

Category Company
Founded 2006
Sector Energy Services and Equipment
Employees6,000
Revenue 5.2B USD (2015)
DESCRIPTION
Entrance to Spectra Energy's corporate headquarters in Houston, Texas.
Entrance to Spectra Energy's corporate headquarters in Houston, Texas.

Spectra Energy Corp. is a pipeline and midstream gas company. Spectra Energy’s operations in the United States and Canada include more than 22,000 miles of natural gas, natural gas liquids, and crude oil pipelines; approximately 305 billion cubic feet (Bcf) of natural gas storage; 4.8 million barrels of crude oil storage; as well as natural gas gathering, processing, and local distribution operations. Spectra Energy was formed in 2006 and is based in Houston, Texas.

DEAL STATS #
Overall 3 of 4
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Texas) 2 of 3
Country (United States) 2 of 3
Year (2013) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-16 Port Barre Investments

Houston, Texas, United States

Port Barre Investments LLC is a provider of firm and interruptible gas storage services.

Buy $540M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-22 Brazoria Interconnector Gas Pipeline

Houston, Texas, United States

Brazoria Interconnector Gas Pipeline LLC is a 42-inch natural gas pipeline in Brazoria County, Texas, with a capacity of approximately 1.8 billion cubic feet per day. It extends 30.5 miles between Stratton Ridge on its south end to a point near Iowa Colony in northern Brazoria County.

Buy -
Mergr

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