Enbridge expansion of North American crude assets

Enbridge has announced two major acquisitions of crude oil assets in the United States to expand its North American liquids infrastructure.

In late August 2026, the company entered a definitive agreement to acquire Salt Creek Midstream’s crude oil gathering business for $600 million in cash. This deal targets the Permian Basin, specifically the Delaware Basin, adding 500 miles of gathering infrastructure and a combined throughput capacity of 420,000 barrels per day.

In September 2026, Enbridge announced a larger $2.55 billion cash acquisition of Tallgrass Energy LP’s crude oil business. This expansion focuses on the U.S. Rockies and includes a 75% interest in the 1,050-mile Pony Express Pipeline and a 51% interest in the Powder River Gateway system. The Tallgrass deal also provides approximately 8.4 million barrels of crude storage capacity across nine terminals and includes the Stanchion Energy marketing business. The acquisition aims to strengthen Enbridge’s presence in the Bakken, Powder River, and Denver-Julesburg basins.

To support these acquisitions, Enbridge has launched a CDN$2.6 billion common share offering. Additionally, the company plans to invest $300 million to expand the Pony Express capacity to 515,000 barrels per day by late 2027. Both transactions are expected to close later in 2026, pending regulatory approvals and U.S. antitrust provisions. Amidst these developments, it was announced that CEO Greg Ebel will retire at the end of the year, with Michele Harradence set to succeed him.