NewsMV
A $2.55 billion all-cash agreement puts Enbridge (ENB) in control of Tallgrass Energy's crude transportation network, adding the 1,050-mile Pony Express Pipeline and roughly 8.4 million barrels of storage that bridge Rockies production to the Cushing, Oklahoma hub.
Regulatory clearance, including U.S. antitrust review, is the next gate before the deal closes later in 2026.
What the assets bring The transaction gives Enbridge a 75% interest in Pony Express, a system with capacity of roughly 460,000 barrels per day that links Denver-Julesburg, Bakken and Powder River Basin production directly to Cushing and connects to around 500,000 bpd of nearby refining capacity.
Alongside it sits a 51% stake in the Powder River Gateway system, two pipelines with combined capacity of about 240,000 bpd, and the nine-terminal storage network.
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