Enbridge agreed to acquire Tallgrass Energy’s crude transportation, gathering, storage, and terminaling business for U.S. $2.55 billion in cash, according to the company’s Sep. 9 announcement and CNW newswire. Company materials put cash consideration at $2.55 billion; earlier wire framing near $2 billion is an outdated round when both appear. The package includes a 75% interest in the Pony Express system, about 460,000 barrels per day of average annual capacity on roughly 1,050 miles, a 51% interest in Powder River Gateway, and about 8.4 million barrels of storage across nine terminals.
Closing is expected later in 2026, subject to customary regulatory approvals including Federal Trade Commission clearance under the Hart-Scott-Rodino Act. Oil above $100 is tape context only and is not the deal lede. Capacities are system averages rather than measured barrels moved.
Sources: Enbridge company announcement, Sep. 9, 2026; Enbridge CNW newswire; Reuters (wire corroboration).
