Western Midstream Partners, Enbridge and Plains Announce Cactus II Pipeline Transaction

HOUSTON, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Western Midstream Partners, LP (NYSE: WES) (“WES”), Enbridge Inc. (TSX: ENB) (NYSE: ENB) (“Enbridge”), and Plains All American Pipeline, L.P. and Plains GP Holdings (Nasdaq: PAA, PAGP) (“Plains”), today announced that certain of their subsidiaries closed a transaction whereby Enbridge and Plains purchased WES’s 15% interest in Cactus II Pipeline, LLC (“Cactus II”) for an aggregate amount of $265 million. Enbridge acquired 10% and Plains acquired 5% of Cactus II, with each paying a proportionate share of the purchase price. Plains and Enbridge are now the sole owners of Cactus II, with 70% and 30% respective ownership interests. Plains will continue to serve as operator.

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