The purchase price was $330m plus customary adjustments and the acquisition includes approximately $50m of crude oil linefill and $9m in pumping equipment (in each case, net to the acquired 50% interest).
The Cameron Highway pipeline system is a 380-mile, 24-inch and 30-inch diameter pipeline constructed in 2004, with capacity to deliver up to 500,000 barrels per day of crude oil from developments in the Gulf of Mexico to major refining markets along the Texas Gulf Coast located in Port Arthur and Texas City.
Enterprise Products Partners indirectly owns the remaining 50% interest in, and operates, the joint venture.
