Pacific Energy Group (PEG) has acquired BP's Rocky Mountain crude oil pipeline assets.
Among the assets purchased are nearly 1,600 mi of trunklines, 500 mi of gathering lines and 2.6 million bbl of storage capacity associated with undivided interests in three pipelines, which extend from the Canadian border to Guernsey, Wyo. The facilities make up the Western Corridor System, a PEG and Conoco Pipe Line co. joint venture.
The assets include: BP's 20.8% interest in the Glacier pipeline; BP's 50% interest in the Beartooth pipeline; BP's 57.6% interest in the Big Horn pipeline; BP's 100% ownership in the Salt Lake City Core System (Big Horn and Powder River gathering mainline operations from Guernsey/Fort Laramie to Salt Lake City, Utah); and a trucking fleet that transports crude oil and water produced from oil wells.
In December 2001, PEG acquired BP's 9.72% interest in Frontier Pipeline, bringing its total ownership interest to 22.22%.
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