On September 9, local time, Canadian energy infrastructure and transportation company Enbridge said in a statement that it has agreed to buy Tallgrass Energy's crude oil business for 2.55 billion US dollars. The acquisition is expected to close in late 2026, and the transaction is valued at approximately 10-11 times the future profit before interest, tax, depreciation and amortization. According to Enbridge, the assets acquired include 75% of the Pony Express pipeline, which is 1,050 miles long and extends from Guernsey, Wyoming and various locations in Colorado to Cushing, Oklahoma. The average annual delivery capacity is about 460,000 barrels per day, and can be directly connected to refining production capacity of about 500,000 barrels per day. The deal also includes a 51% interest in Powder River Gateway and an oil storage capacity of approximately 8.4 million barrels distributed across nine terminals.

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