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Athabasca sells midstream assets to Enbridge for $265MM

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Athabasca OIl Corp. is selling oil sands midstream assets in Alberta to pipeline giant Enbridge in a $265 million deal. The Leismer SAGD pipelines and the 300,000 bbl/d Cheecham storage terminal both serve Athabasca’s 100%-owned Leismer oil sands and Corner projects, which were acquired as part of a $582 million deal with Equinor that closed in January 2017. Athabasca will pay a $26 million annual toll to Enbridge to continue using the assets. The......
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