June 3, 2011 / 12:02 PM / 7 years ago

UPDATE 1-Aux Sable affiliate buys assets in Bakken area

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June 3 (Reuters) - Aux Sable, partly owned by Enbridge Inc , said one of its affiliates has agreed to buy some key assets in the Bakken area of North Dakota from U.S. oil and gas company EOG Resources for $185 million.

Aux Sable, which aims to be a market leader in the midstream gas processing and natural gas liquids industry in North America, said its affiliate, Sable NGL LLC, will purchase the Stanley Condensate Recovery Plant and the Prairie Rose Pipeline.

Aux Sable and Sable NGL are owned by Veresen Inc , Williams Partners and Enbridge, whose pipelines carry the bulk of Canada’s crude exports to the United States.

“This acquisition represents a significant step forward in the pursuit of our strategic growth objectives in the Bakken area, as it provides key infrastructure assets that will lead to increased deliveries of liquids-rich natural gas to our Channahon facilities,” Aux Sable CEO W.J. McAdam said.

The transaction is expected to close in July. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Roshni Menon)

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