Holly Energy Partners (HEP +0.3%) agrees to acquire Enbridge’s (ENB +2.8%) 50% stake in the Frontier Pipeline for an undisclosed amount.
The Frontier pipeline is a 296-mile crude oil route that runs from Casper, Wyo., to Frontier Station, Utah, and has a capacity of 72K bbl/day; the line brings Canadian and Rocky Mountain crude oils south to refineries in the Salt Lake City area.
Plains All American (PAA +1.5%) owns the remaining 50% interest and will continue to operate the Frontier line.