By OGJ editors
HOUSTON, May 25 -- A unit of Plains All American Pipeline LP agreed to acquire interests in three Gulf Coast crude oil pipeline systems from BP Oil Pipeline Co. for $133.5 million. The total pipeline mileage is 320 miles.
The transaction is expected to close on June 30, subject to regulatory approvals and customary closing conditions as well as the expiration of preferential purchase rights.
The assets consist of a 100% interest in the Bay Marchand-to-Ostrica-to-Alliance Pipeline (BOA), a 64.35% interest in a segment of the Clovelly-to-Meraux Pipeline (CAM), and various interests in segments of the High Island Pipeline System (HIPS).
BOA and CAM are the two primary suppliers of ConocoPhillips's 247,000-b/cd Alliance refinery in Belle Chasse, La. HIPS is a network of offshore gathering pipeline systems that deliver crude oil to various points in or around Texas City, Tex.