CALGARY – Enbridge Inc. is further expanding its reach into the U.S. market with a US$2.55-billion deal to buy the crude oil business of Tallgrass Energy LP.
The acquisition includes a 75 per cent interest in the Pony Express Pipeline, a 460,000-barrel-per-day system that connects oil from the Rockies region to Cushing, Okla., a major storage hub.
It also gets Enbridge a 51 per cent interest in the Powder River Gateway system, about 8.4 million barrels of storage capacity across nine terminals and a crude marketing business.
Enbridge says it believes U.S. crude oil production will continue to play a critical role in meeting global energy demand for decades, and the Tallgrass deal “positions the company to lead this mission.”
The deal is expected to close later in 2026, subject to closing conditions that include U.S. antitrust provisions.
The acquisition was announced a day after CEO Greg Ebel said he plans to retire at year end, handing the reins to the current head of Enbridge’s gas utilities business, Michele Harradence.
This report by The Canadian Press was first published Sept. 9, 2026.
Companies in this story: (TSX:ENB)