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Enbridge to Acquire Tallgrass ' Crude Transportation Business , Expanding Its Leading North American Crude Oil Franchise NEWS PROVIDED BY Enbridge Inc. Sep 09 , 2026 , 16:14 ET CALGARY , AB , Sept. 9 , 2026 / CNW / -- Enbridge Inc. ( TSX : ENB ) ( NYSE : ENB ) ( " Enbridge " or the " Company " ) announced today that , through a wholly - owned subsidiary , it has entered into a definitive agreement with wholly - owned subsidiaries of Tallgrass Energy , LP ( " Tallgrass " ) to acquire its crude oil business which includes : • 75 % of Pony Express Pipeline ( Pony Express ) , a 1,050 - mile , ~ 460 kbpd crude system connecting Rockies production to Cushing , OK with direct access to ~ 500 kbpd of refining capacity . • 51 % of Powder River Gateway system , including two crude pipelines capable of delivering a combined capacity of ~ 240 kbpd . • ~ 8.4 million barrels of storage capacity across nine crude terminals connected into Pony Express , inclusive of a 60.3 % non - operating interest in the Deeprock Crude Terminal in Cushing , OK . • Stanchion Energy , a crude marketing business which drives incremental throughput and optimizes value of the other acquired assets . Under the agreement , Enbridge will acquire the business for cash consideration of U.S. $ 2.55 billion , subject to customary closing date adjustments , which represents an estimated acquisition multiple of 10-11x forward enterprise value to EBITDA . Enbridge believes that U.S. crude oil production will continue to play a critical role in meeting global energy demand for decades and this transaction further positions the Company to lead this mission . Specifically , this acquisition provides Enbridge with a strategic connection between the Bakken , Powder River Basin ( PRB ) and Denver - Julesburg ( DJ ) basins through Cushing and complements Enbridge's existing Express - Platte system . The Company expects the acquired business to generate significant free cash flows , provide future growth and create opportunities for operational synergies over time across its broader liquids pipeline network . " This acquisition strengthens Enbridge's position as North America's leading crude oil transporter and expands its footprint into the U.S. Rockies region , " said Colin Gruending , Executive Vice President and President of Enbridge Liquids Pipelines . " The Pony Express system is a premier crude oil corridor connecting some of North America's most productive basins with key refining and market