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
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