Enbridge’s US$132 million Acquisition Of crude storage assets from Blueknight Energy Partners


Sidley Austin LLP advised Enbridge Inc. on the deal.

Enbridge Inc. (NYSE: ENB) announced the purchase of crude storage assets from Blueknight Energy Partners for US$132 million, subject to customary adjustments and excluding crude oil linefill and inventory. The assets include approximately 6.6 million barrels of crude oil storage in Cushing, Oklahoma.

Enbridge Inc. provides energy transportation, distribution, and related services in North America and internationally. The Company operates a crude oil and liquids pipeline system, is involved in international energy projects, and is involved in natural gas transmission and midstream businesses. Enbridge also distributes natural gas and electricity, and provides retail energy products.

The Sidley team included Glenn Pinkerton (Picture) and Atman Shukla, with support from partners Emily Mallen, Heather Palmer, and Angela Richards, counsel Scott Goldstein, and associates Riley Fedechko, Radhika Kannan, and Cedric Seley.

Involved fees earner: Riley Fedechko – Sidley Austin LLP; Scott Goldstein – Sidley Austin LLP; Radhika Kannan – Sidley Austin LLP; Emily Mallen – Sidley Austin LLP; Heather Palmer – Sidley Austin LLP; Glenn Pinkerton – Sidley Austin LLP; Angela Richards – Sidley Austin LLP; Cedric Seley – Sidley Austin LLP; Atman Shukla – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: Enbridge Inc;

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Author: Ambrogio Visconti