Wolf Midstream Inc. to Acquire 50% Interest in Access Pipeline in Alberta for $1.4 Billion
Calgary-based Wolf Midstream will acquire a 50% ownership interest in Access Pipeline from Devon Energy for $1.4 billion. The Access system includes pipelines transporting blended bitumen and diluent between the Christina Lake area of northeastern Alberta and Edmonton. Under the terms of the contract, Devon’s thermal-oil acreage is dedicated to Access for an initial term of 25 years. Closing is expected during the third quarter., Calgary-based Wolf Midstream team and Canada Pension Plan Investment Board (CPPIB) are together focused on acquisition opportunities in Western Canada.