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UPDATE 1-Enbridge to buy some Murphy Oil gas plants in British Columbia

Published 2016-01-27, 06:02 p/m
© Reuters. UPDATE 1-Enbridge to buy some Murphy Oil gas plants in British Columbia

(Adds details)
Jan 27 (Reuters) - Enbridge Inc ENB.TO , Canada's largest
pipeline company, said it would buy Murphy Oil (N:MUR) Corp's MUR.N
Tupper Main and Tupper West gas plants in northeastern British
Columbia for C$538 million ($382 million).
The deal includes the sale of plants capable of processing
up to 320 million cubic feet per day, Enbridge said on
Wednesday.
The assets would boost its natural gas footprint in Montney,
one of the most attractive gas plays in North America, the
company said.
The transaction, which is between Murphy Oil's Canadian unit
Murphy Oil Co Ltd and Enbridge unit Enbridge G&P Ltd
Partnership, is expected to close in the second quarter.
Murphy Oil said that, in a separate deal, it would buy
working interests in some of Athabasca Oil Corp's ATH.TO
assets in Alberta for C$475 million.
Murphy Oil will buy a 70 percent working interest in Kaybob
Duvernay lands and 30 percent non-operated working interest in
Montney lands, which would expand its presence in the North
American unconventional shale business.
($1 = C$1.41)

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