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Enbridge Completes Bakken Crude Pipeline Project

"Enbridge Energy Partners and the Enbridge Income Fund (ENF.TO) said on Monday they had finished part of their Bakken crude pipeline expansion project, adding 145,000 barrels per day of capacity to the booming oil region around North Dakota," Reuters reported.

It said: "Shale oil production from the expansive Bakken formation, which straddles the U.S. and Canadian border, has surged in recent years prompting a spate of infrastructure projects to help provide crude to refiners in the region and beyond. In North Dakota alone, production has risen to almost 770,000 bpd at the end of last year from 100,000 bpd in 2006."

"The project was the third expansion of Enbridge's transport infrastructure in the Bakken region in the past five years. Bakken production could rise to 1.2 million bpd in the coming years, the companies said. Canadian pipeline operator Enbridge Inc (ENB.TO) has a 23% stake in Enbridge Energy Partners and a 20% stake in the Enbridge Income Fund."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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