Canadian Manufacturing

CPPIB teams with Wolf Midstream on $1.4B pipeline deal

Wolf will purchase 50 per cent ownership in the Access bitumen pipeline with money from the Canada Pension Plan Investment Board



Cenovus Energy's Christina Lake oil sands operation in northern Alberta. PHOTO Cenovus

Cenovus Energy’s Christina Lake oil sands operation in northern Alberta. PHOTO Cenovus

CALGARY—The Canada Pension Plan Investment Board and Wolf Midstream Inc. are investing $1.4 billion to buy half ownership of a pipeline in northeastern Alberta.

The Access pipeline transports blended bitumen and diluent between the Christina Lake area and Edmonton.

Wolf will make the purchase from Devon Engery Corp. with $825 million provided by CPPIB, which manages investments for the Canada Pension Plan.

Devon Energy is an independent energy company based in Oklahoma City and listed on the New York Stock Exchange

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