Enbridge Launches Bakken Expansion Program Binding Open Season

Monday, Aug 30, 2010

Enbridge Energy Partners L.P. (NYSE:EEP) ("EEP") and Enbridge Income Fund (TSX:ENF.UN) ("ENF"), affiliates of Enbridge Inc. (collectively "Enbridge") today launched a binding open season to solicit additional shipper interest in the Bakken Expansion Program, a series of projects to expand crude oil pipeline capacity in North Dakota and Saskatchewan. These proposed projects, will provide incremental capacity to meet the crude oil transportation needs of Williston Basin producers.

"The Bakken and Three Forks formations in the Williston Basin are expected to be significant long-term sources of crude oil production growth," said Stephen J. Wuori, Executive Vice President, Liquids Pipelines, Enbridge Inc. "The Enbridge system provides a low cost solution for shippers to access prime U.S. markets including the Great Lakes region of the Upper Midwest and the Midcontinent refinery markets connected to Cushing, Oklahoma. Our ability to provide segregated service also ensures that producers maximize the netback from their high quality, light sweet Bakken crude oil production. Finally, the integration of the Bakken Expansion Program with the Enbridge mainline will provide long-term guaranteed access to prime markets in the United States."

Enbridge's proposed Bakken Expansion Program includes several separate yet complementary projects. When completed, this program will provide another 145,000 barrels per day (bpd) of incremental pipeline capacity from new receipt locations in the Bakken and Three Forks formations in North Dakota to interconnections with other existing Enbridge systems serving a broad number of refineries in North America.

Enbridge has sufficient binding commitments to proceed with the Beaver Lodge Loop Project and the Enbridge Bakken Pipeline Projects (U.S. and Canada). Through the open season, shippers will have the opportunity to secure firm capacity on these two projects as well as commit to capacity on the SORTI and Dunn Projects. Details on the projects are available in the attached backgrounder and at www.enbridge.com.

The binding Open Season begins today, August 26, 2010, and closes at 5 p.m. MT on October 29, 2010.

 

Source: Enbridge