ENBRIDGE ENERGY PARTNERS, L.P. (NYSE:EEP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
To the extent required, the information included in Item 8.01 of this Form 8-K is incorporated into this Item 1.01 by reference.
Item 8.01. Other Events.
Enbridge Energy Partners, L.P. (“EEP”) previously announced on August 2, 2016, that it had entered into a new joint venture, MarEn Bakken Company LLC (“MarEn”), which in turn had entered into a Membership Interest Purchase Agreement (“MIPA”) with Bakken Holdings Company LLC (“Bakken Holdings”) to, among other things, acquire 49 percent of the issued and outstanding membership interests in Bakken Pipeline Investments LLC (“BPI”). BPI owns 75 percent of the Bakken Pipeline System. The MIPA contained customary terms and conditions, including that the transaction could be terminated by either party if the transaction had not been consummated on or prior to December 31, 2016 (the “Outside Termination Option Date”).
Bakken Holdings and MarEn entered into an amendment to the MIPA dated December 14, 2016 (the “Amendment”). Under the terms of the Amendment, the Outside Termination Option Date has been changed from December 31, 2016 to March 31, 2017. All other terms of the MIPA remain in full force and effect.
About ENBRIDGE ENERGY PARTNERS, L.P. (NYSE:EEP)
Enbridge Energy Partners, L.P. is a limited partnership that owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States. The Company’s activities include interstate pipeline transportation and storage of crude oil and liquid petroleum, and gathering, treating, processing and transportation of natural gas and natural gas liquids (NGLs), through pipelines and related facilities, and supply, transportation and sales services, including purchasing and selling natural gas and NGLs. The Company operates in two business segments: Liquids and Natural Gas. The Liquids segment includes the operations of its Lakehead, Mid-Continent and North Dakota systems. The Natural Gas segment includes natural gas and NGL gathering and transportation pipeline systems, natural gas processing and treating facilities, condensate stabilizers and an NGL fractionation facility. ENBRIDGE ENERGY PARTNERS, L.P. (NYSE:EEP) Recent Trading Information
ENBRIDGE ENERGY PARTNERS, L.P. (NYSE:EEP) closed its last trading session down -0.23 at 23.84 with 1,243,051 shares trading hands.