Enbridge Inc. agrees the $538 million acquisition of Tupper Main and Tupper West gas plants and associated pipelines in northeastern B.C., from the Canadian subsidiary of Murphy Oil Corporation (Murphy).

'This acquisition fits extremely well with Enbridge's low risk value proposition and supports our key priority of extending and diversifying growth,' said C. Gregory Harper, President of Gas Pipelines and Processing. 'These assets, which are currently in operation, are underpinned by long-term contracts that generate highly predictable cash flows. They also enhance our natural gas footprint within the Montney, one of the most attractive gas plays in North America, and add gas processing services in proximity to our existing Sexsmith gathering system.'

Tags: Enbridge Inc., Murphy Oil Corp.