HOUSTON — Bracewell & Giuliani is representing Kinder Morgan Energy Partners, L.P. (KMP) in its announced agreement to sell its one-third interest in the Express-Platte pipeline system to Spectra Energy Corp for approximately $380 million.
KMP’s joint venture partners in Canada are also selling their interests in the pipeline system, as Spectra is purchasing 100 percent of Express-Platte, a 1,700-mile oil pipeline system connecting Canadian and U.S. producers to refineries in the Rocky Mountain and Midwest regions of the United States.
The transaction is expected to close in the second quarter of 2013.
Bracewell attorneys involved in the transaction are:
Partners: Gregory M. Bopp, W. Cleland Dade, Daniel E. Hemli, Scott C. Sanders, Aaron P. Roffwarg
Counsel: Jacqueline R. Java