Western Midstream Partners, Enbridge and Plains Announce Cactus II Pipeline Transaction
Vinson & Elkins advised Plains All American Pipeline, L.P. (“Plains”) and Enbridge Inc. (“Enbridge”) in connection with a transaction whereby Enbridge and Plains purchased Western Midstream Partners, LP’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.
The V&E team was led by partner Doug Bland and senior associate Caroline Kuehn, with assistance from partners Matt Falcone and Ryan Carney and associate Brian Broussard.
About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or follow us on Twitter @VinsonandElkins or connect with us on LinkedIn.
For more information, please speak with our media contacts.