Enbridge Energy Partners, L.P. (EEP)

[pete807]

Enbridge applies to build pipeline from North Dakota in $2.6B project • 4:49 PM 11-5-2013

Enbridge (ENB; EEP) applies to build the largest oil pipeline yet from North Dakota and will begin courting oil producers to reserve space, in a $2.6B project that would move millions of gallons of oil to Minnesota and Wisconsin.
The proposed 612-mile Sandpiper pipeline would carry 225K bbl/day of oil to a hub in northern Minnesota and 375K bbl/day to one in northwestern Wisconsin.
North Dakota oil production is closing in on 1M bbl/day, but due to the lack of pipeline capacity in the state, ~61% of the daily oil production is being shipped by rail; ENB’s application to regulators argues the project is “needed and in the public interest.”
-from SA Market Currents